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