Rebound in energy stocks helps to lift European equities

martes 2 de diciembre de 2014 04:15 GYT

LONDON Dec 2 (Reuters) - European stock markets rose on Tuesday, helped by a rebound in energy stocks following a brief bounce in the price of crude oil late on Monday when the oil market rallied for the first time in six sessions.

The pan-European FTSEurofirst 300 index, which enjoyed a six-day winning run over the last week but then lost ground on Monday, was up by 0.4 percent at 1,390.83 points in early session trading.

Oil majors such as BP, Total and Royal Dutch Shell all rose by 1.8-2 percent, adding the most points to the FTSEurofirst 300 index.

However, German solar company SMA Solar missed out on the market rally to slump by 17.4 percent after it cut its outlook for 2014.

The energy sector was buoyed by the brief rally in the crude oil price on Monday, although Brent crude oil gave up some of those gains to slip back towards $72 a barrel.

"The weight of money does seem to want to come back into the stock markets, and we're more likely to drift up going into the end of the year than drift down," said Terry Torrison, managing director at Monaco-based McLaren Securities. (Reporting by Sudip Kar-Gupta; Editing by Alistair Smout)