European stocks rise before US debt talks reach impasse

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German market reaches record high as investors are buoyed by hopes of progress on Capitol Hill via IrishTimesBiz

But there were better fortunes for building materials group CRH, which nudged up 0.5 per cent to €46.15, and Paddy Power owner Flutter Entertainment, which rose 1.9 per cent to €189.55.

Oil heavyweights Shell and BP gained 0.7 per cent and 0.2 per cent respectively, pushing the broader energy sector up 0.5 per cent as oil prices advanced over what appeared to be the fading risk of US debt default. Shares of semiconductor companies such as AMS and Nordic Semiconductor rallied more than 5 per cent as Swiss and Norwegian markets reopened after Thursday’s holiday.

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