European equities get energy boost; Capita slumps 30 pct

jueves 29 de septiembre de 2016 04:50 GYT

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* STOXX Europe 600 index up 1 pct

* Energy shares rally after OPEC deal

* Capita sinks 30 pct after profit warning

By Atul Prakash

LONDON, Sept 29 (Reuters) - European equities climbed higher on Thursday, with energy shares rallying after oil prices surged overnight following a deal by OPEC members to limit crude output.

The Organization of the Petroleum Exporting Countries reached an agreement in Algiers to cut production to a range of 32.5-33.0 million barrels per day. OPEC estimates its current output at 33.24 million bpd.

The European oil and gas index soared 4.8 percent and was poised for its best day in seven months. Tullow Oil jumped 8.4 percent, while heavyweights Royal Dutch Shell , Total and BP were up 4.5-5.7 percent.

"The OPEC agreement will make the return to market equilibrium in the oil market easier and faster. Oil prices going substantially above $50 a barrel could now happen in the spring of 2017," said Ronny Claeys, senior strategist at KBC Asset Management.   Continuación...