Europe shares rally, led up by rebound for oil stocks

jueves 18 de diciembre de 2014 07:53 GYT
 

* FTSEurofirst 300 up 1.3 pct

* Oil stocks rebound, led by shorted stocks

* Banks rally on Fed's patient approach

* Greek stocks drop 3 percent after parliament vote (Adds detail, quotes)

By Alistair Smout

LONDON, Dec 18 (Reuters) - European stocks rose on Thursday, led higher by energy-related stocks as oil rose and by strength in financials after the U.S. Federal Reserve said it would take a patient approach toward raising interest rates.

At 1135 GMT, the FTSEurofirst 300 index of top European shares was up 1.9 percent at 1,341.86 points.

Oil companies topped the index, with Norway's Seadrill up 8.7 percent and Statoil up 6.4 percent, as Brent crude jumped 3 percent to $63 percent per barrel.

The STOXX 600 Oil & Gas sector was up 3.1 percent, but remains down over 18 percent since the beginning of October. Many of the stocks in the sector are heavily shorted and positioned for a squeeze higher, traders said.   Continuación...