Energy sector rebound helps lift European share markets

martes 2 de diciembre de 2014 11:50 GYT
 

* FTSEurofirst 300 up 0.5 pct, bounces after Monday's losses

* Saipem, Salzgitter slide as Russia scraps pipeline project

* Positive impact seen from lower energy prices

By Blaise Robinson and Sudip Kar-Gupta

PARIS/LONDON, Dec 2 (Reuters) - European share market indexes rose on Tuesday, helped by a rebound in energy stocks after crude oil prices bounced up from the five-year lows hit on Monday.

BP featured among the top gainers, up 3.6 percent, with several traders citing market talk of a takeover bid from rival Royal Dutch Shell. Shell declined to comment, while no one at BP was available for comment.

With the price of crude oil tumbling, merger deals in the oil and gas sector have hit $369 billion so far this year, a rate not seen on records going back to the 1970s, according to Thomson Reuters data.

Shares in Italian oil services group Saipem and German steelmaker Salzgitter bucked the trend, tumbling 8.6 percent and 8 percent respectively after Russia scrapped its $40 billion-euro South Stream European gas export pipeline project, which involved the two firms.

At 1520 GMT, the FTSEurofirst 300 index of top European shares was up 0.5 percent at 1,392.35 points.   Continuación...