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Oil, travel stocks boost European shares

Published 03/08/2021, 04:25 PM
Updated 03/08/2021, 04:30 PM
© Reuters.

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
March 8 (Reuters) - European shares rose on Monday, catching
up with a late Friday rally on Wall Street, while oil majors
like Royal Dutch Shell and BP jumped as crude prices were
boosted by reports of attacks on Saudi Arabian facilities.
The pan-European STOXX 600 index .STOXX gained 0.6% in
early trading, after U.S. markets rebounded strongly late last
week. .N
Asian markets and Wall Street futures were, however, weaker
on Monday as the U.S. Senate passage of a $1.9 trillion stimulus
bill put fresh pressure on Treasuries and a jump in Brent crude
futures above $70 a barrel for the first time since the COVID-19
pandemic began stoked concerns about inflation. O/R
The oil & gas sector .SXEP jumped 1.0% in Europe, while
travel & leisure .SXTP and banks .SX7P gained more than 1.3%
each.
Cruise operator Carnival CCL.L was the top gainer on STOXX
600, up 6.0%, while British education group Pearson PSON.L
slid almost 5% after reporting a drop in 2020 revenue and
adjusted operating profit.

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