UPDATE 2-European shares look past dire data, energy stocks jump [Reuters]
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Source: Reuters
European shares look past dire data, energy stocks jump (Reuters) - A jump in energy stocks lifted European stock markets on Thursday, while investors counted on more stimulus to revive the bloc’s economy as the coronavirus-induced lockdowns brought activity to a halt in April. The pan-European STOXX 600 was up 0.3%, recovering for a second straight day as oil prices edged higher after collapsing at the start of the week. [O/R] The energy index .SXEP jumped 2.4%, with Total SA ( TOTF.PA ), BP Plc ( BP.L ) and Royal Dutch Shell Plc ( RDSa.L ) providing the biggest boost to the STOXX 600. Most of the major European sub-indexes were trading higher, even as data showed economic activity in the euro zone ground to a halt in April with several sectors idling plants and furloughing staff. “The rather muted reaction relative to the amplitude of the misses proves the lack of surprise for markets, which are almost immune to data at the moment,” said Olivier Konzeoue, FX sales trader at Sa
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