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Europe: Stocks rally at open after Opec deal

Thursday, September 29, 2016 - 15:24

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Europe's main stock markets rallied at the start of trading on Thursday as energy share prices surged following Opec's surprise deal to cut oil output.

[LONDON] Europe's main stock markets rallied at the start of trading on Thursday as energy share prices surged following Opec's surprise deal to cut oil output.

London's benchmark FTSE 100 index jumped one per cent to 6,917.76 points at the open compared with the close on Wednesday.

In the eurozone, Frankfurt's DAX 30 advanced one per cent to 10,545.60 points and the Paris CAC 40 won 1.3 per cent.

The gains come after Opec's announcement late Wednesday of a deal - the first of its kind in eight years - lit a fire under oil prices and in turn petroleum-linked shares in Wall Street and later on Asian stock markets.

AFP

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