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Europe: Stocks advance at open on Tuesday
[LONDON] European stock markets rose at the start of trading on Tuesday, drawing strength from rebounding oil prices, as Frankfurt returned for business after a long holiday weekend.
In initial trade, London's benchmark FTSE 100 index won 0.5 per cent to 6,184.42 points and the Paris CAC 40 added 0.3 per cent to 4,325.11 compared with Monday's closing levels.
Frankfurt's DAX 30 index rose 0.6 per cent to 10,019.79 points compared with Friday's close, following a public holiday on Monday.
"A positive finish both the US and Asia, plus the fact that oil prices continue to march higher, have combined to ensure London's FTSE 100 kicks off Tuesday's session by extending yesterday's late gains," said TrustNet analyst Tony Cross.
Asian equities rallied Tuesday investors cheered Warren Buffett's billion-dollar stake in Apple, while energy stocks also tracked further gains on oil prices.
After last week's sell-off, Wall Street provided a blistering lead Monday, pumped up by news of Buffett's giant stake in the iPhone maker.