Europe: Stocks return from Christmas as oil surge lifts shares

[LONDON] European equities advanced after two days of Christmas holidays as a jump in the oil price fueled a rally in crude-sensitive shares.

The Stoxx Europe 600 Index added 0.4 per cent. The biggest gainers included Total and Shell, both up more than 1 per cent, after Brent soared 7.9 per cent on Wednesday. Retail and luxury stocks also rebounded from the Monday slump, with LVMH adding 2.2 per cent.

European stocks were closed on Tuesday and Wednesday for Christmas holidays. The S&P 500 soared the most since 2009 on Wednesday on signs of robust consumer spending, easing concern about the tenure of the Federal Reserve chief and progress on US-China trade talks. European equities are still heading for the worst year since the 2008 financial crisis.

BLOOMBERG