Tuesday, December 22, 2015

European shares lifted by bid activity, firmer energy stocks

European shares rose on Tuesday to recover from a pullback in the previous session caused by worries over Spain, as firmer energy stocks and takeover activity lifted the region's equity markets.

The pan-European FTSEurofirst 300 index, which fell 1.2 per cent on Monday, recovered to stand 0.8 per cent higher, while the euro zone's blue-chip Euro STOXX 50 index also advanced by 0.9 per cent.

Oil stocks such as BP and Royal Dutch Shell recovered as oil prices edged away from multi-year lows on Tuesday.

Shares in USG People also surged 28 per cent after Japanese employment agency Recruit agreed to buy the Dutch staffing company for 1.4 billion euros ($1.53 billion), a premium of 31 per cent to its closing price on Monday.

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