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European shares lifted by oil bounce, dealmaking; cybersecurity stocks gain
May 15, 2017 / 7:32 AM / 6 months ago

European shares lifted by oil bounce, dealmaking; cybersecurity stocks gain

MILAN, May 15 (Reuters) - European shares rose on Monday helped by a bounce in oil prices and fresh dealmaking activity, while a global hacking attack boosted shares of software security firms.

The pan-European STOXX 600 index rose 0.2 percent, hovering around its highest levels in 21 months, while Germany’s DAX was up 0.3 percent after hitting a fresh record high. UK’s FTSE added 0.3 percent.

Oil prices jumped after the energy ministers of the world’s two biggest producers Saudi Arabia and Russia jointly said that a crude production cut would be extended.

That helped commodity-related stocks with the Basic Resources and Oil indexes up 1 and 0.8 percent respectively.

Italian motorway company Atlantia was among the top gainers in Europe, up 3 percent, after it launched a 16 billion euro bid for Spanish rival Abertis, whose share were little changed.

London-listed shares in cloud network security firm Sophos jumped as much as 3.6 percent to a record high, as cybersecurity stocks were in demand after a global “ransomware” attack disrupted car factories, hospitals, shops and schools around the world. (Reporting by Danilo Masoni, Editing by Vikram Subhedar)

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