European shares rise on oil gains, French utility plays

📆 8/31/2020 12:30 PM
📰 Reuters

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European shares rose on Monday as heavyweight oil and gas players were supported by higher crude prices and merger talks in major French utilities saw the sector outperform regional peers.

Suez jumped nearly 20% and was set for its best day ever, while Veolia and Engie added about 3.6% and 6%, respectively. Their gains spurred a more than 1% rise in the European utility sector .SX6P, which outpaced its regional peers.

Activity in China’s services sector expanded at a much faster pace in August, official data showed, as demand across the economy continues to recover from a coronavirus-induced slump.

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