Europe stocks extend gains as oil boosts energy

Thu Jul 9, 2009 9:47am BST
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PARIS, July 9 (Reuters) - European stocks extended their early gains on Thursday, up 1 percent, as a rebound in oil prices CLc1 boosted shares of energy companies such as Total (TOTF.PA: Quote, Profile, Research).

At 0837 GMT, the FTSEurofirst 300 index of top European shares was up 1 percent at 825.12 points, snapping a five-session losing streak.

U.S. crude oil prices bounced back, gaining more than $1 at $61.20 a barrel on Thursday. Total was up 1 percent, Repsol (REP.MC: Quote, Profile, Research) gained 0.8 percent and Royal Dutch Shell (RDSa.L: Quote, Profile, Research) rose 0.8 percent.

But Europe's biggest gainers were mining and steel shares, rising after Alcoa's (AA.N: Quote, Profile, Research) reassuring results late on Wednesday.

Xstrata (XTA.L: Quote, Profile, Research) was up 3.1 percent and BHP Billiton (BLT.L: Quote, Profile, Research) was up 3.3 percent. (Reporting by Blaise Robinson, editing by Atul Prakash)

 
 
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