UPDATE 1-Oil boost and Italy budget hopes support European shares; Next shines [Reuters (UK)]
Royal Dutch Shell PLC Royal Dutch Shell PLC American Depositary Shares (Each representing two Class B Ordinary Shares) (RDS.B)
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Source: Reuters
Oil boost and Italy budget hopes support European shares; Next shines | Reuters 3 Min Read MILAN (Reuters) - European shares were supported in morning trading on Tuesday by gains among oil stocks, while British clothing retailer Next ( NXT.L ) rallied after raising its profit guidance. The pan-European STOXX 600 index rose 0.2 percent by 0801 GMT, recovering part of the losses suffered in the previous session when worries over a protracted U.S.-Sino trade war sparked profit-taking. Optimism over the Italian budget also buoyed sentiment. Oil majors BP ( BP.L ) and Shell ( RDSa.AS ) rose more than 1 percent after Brent hit a fresh four-year high amid looming U.S. sanctions against Iran and an apparent reluctance by OPEC and Russia to raise output to offset the expected to hit to supply. “Russia and Saudi Arabia essentially ignoring Trump’s pleas, combined with U.S. sanctions hitting Iran’s oil exports in early November means we expect fresh multi year highs for oil, which will als
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