(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
May 18 (Reuters) - European shares bounced on Monday after
their worst week in two months, as investors hoped for a gradual
economic recovery with many countries easing coronavirus-led
lockdowns.
Energy majors Total SA TOTF.PA , BP Plc BP.L and Royal
Dutch Shell Plc RDSa.L rose nearly 4%, leading market gains as
oil prices climbed by more than $1 a barrel, supported by output
cuts and signs of gradual demand recovery. O/R
Total was also boosted by news that it called off plans to
acquire Occidental Petroleum Corp's OXY.N assets in Ghana, and
agreed to buy up assets from Energías de Portugal EDP.LS .
The pan-European STOXX 600 .STOXX rose 1.8% by 0710 GMT.
Shops, restaurants and hair salons prepared to reopen in
Italy on Monday, while other centres of the outbreak such as New
York and Spain gradually lifted restrictions that has plunged
the global economy in a severe downturn.
German conglomerate Thyssenkrupp AG TKAG.DE jumped 7%
after a source told Reuters it was in talks with international
peers about consolidating its loss-making steel business.