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Indonesia News Portal for Traders | Financial & Business Updates

26 September 2024 23:18  |

Europe Stocks Close 1.2% Higher as Household Goods Lead Gains; Luxury Giants LVMH and Kering Rally

European stocks closed higher on Thursday, spurred on by overnight gains in Asia-Pacific markets.

The pan-European Stoxx 600 ended the session up 1.25%, with most sectors and major bourses in positive territory.

Household goods led gains, closing up around 4.6%, while mining and tech stocks added 4.3% and 3%, respectively.

Oil and gas stocks fell 3% as crude prices dropped on a Financial Times report that Saudi Arabia is preparing to scrap its unofficial oil price target of $100 per barrel. Energy firms including BP, Shell and TotalEnergies all ended more than 3% lower.

The relatively upbeat session for Europe comes after Asia-Pacific markets rose overnight.

Source : CNBC

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