(Reuters) – European stocks soared on Tuesday after falling last session, while investors watched the upcoming earnings season and focused on expectations. that there would be more motivation in the U.S. under new president Joe Biden.
The STOXX 600 regional index rose 0.4% by 0811 GMT, with the oil & gas and travel & leisure sectors climbing more than 1% each to drive the gains.
Investors held profits Monday after a rally last week after Democrats swept in U.S. Senate elections in anticipation of a larger U.S. fiscal stimulus.
BP, Royal Dutch Shell and Total oil majors found crude prices falling against expectations of a pullback in U.S. crude oil stockpiles. [O/R]
The Danish shipping company rose 2.8% after broker Berenberg upgraded the stock to “buy”, saying a price-driven earnings movement would see the stock run higher.
Swedish online gaming company Kindred jumped 5% after reporting strong business movement during the fourth quarter, while Renault SA rose 1.5% after the French automaker said it started 2021 with a higher order rate than in 2019.
Reporting by Amal S in Bengaluru; Edited by Subhranshu Sahu