European stocks rise on stronger BT and oil majors

Firmer oil prices lift shares of oil producers in early trading in Europe

European stock markets rose on Thursday, buoyed by some solid corporate earnings at the likes of BT, and a rise in the shares of major oil companies.

The pan-European FTSEurofirst 300 index, which had fallen 1.2 per cent to its lowest level in nearly a month in the previous session, rebounded slightly to stand 0.3 per cent higher.

BT was one of the best-performing stocks in the region, rising 3.1 per cent after BT reported a better-than-expected 6 per cent rise in full-year earnings.

Firmer oil prices also lifted the shares of major oil producers, with Spanish oil major Repsol up 4.5 per cent despite posting lower first quarter profits.

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Reuters