Solid BP Update Pushes European Shares To Nine-Week High As Banks Rebound

www.oann.com | 1/17/2019 | Staff
Mandyixus (Posted by) Level 3
MILAN (Reuters) – European shares hit nine-week highs on Tuesday as a recovery in banks and gains in oil stocks on stronger crude prices and a solid update from major BP helped offset some disappointing updates including from Apple supplier AMS.

The pan-European STOXX 600 index up 0.5 percent at its highest since Dec. 3 at 0839 GMT, while euro zone stocks added 0.4 percent and the commodity-heavy FTSE 100 rose 0.8 percent.

BP - Profit - Growth - Oil - Gas

BP said its profit doubled to $12.7 billion in 2018, driven by strong growth in oil and gas output following the acquisition of a large portfolio of U.S. shale assets.

Its shares rose 3.4 percent, set for their best day since September 2016, helping the oil index lead sectoral gainers in early trading, up more than 1 percent.

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