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European Equities Rebound as Oil Rally Boosts Commodities Stocks

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European equity benchmarks started the week higher on Monday morning with mining stocks among the biggest gainers as oil futures prices edged higher.

West Texas Intermediate crude oil futures, the main US benchmark, were 1.8% higher at $60.27 per barrel while Brent crude, the international gauge, was up by 1.6% at $63.77 per barrel in recent trade.

In equities, Evraz (EVR.L), a steel making and mining company, was leading the gainers on London's FTSE 100 Index, up by 4.8% followed by NMC Health (NMC.L), up by 2.6% and miners Rio Tinto (RIO.L) and Anglo American (AAL.L), both up by 2.4%.

On Frankfurt's DAX, chemical company Linde (LIN.DE)) was up by 3.1%, followed by Infineon (IFX.DE), a semiconductor manufacturer, up by 2.8% and Deutsche Bank (DBK.DE), trading 2.5% higher and automobile manufacturer Volkswagen (VOW.DE), up by 2.4%. And, on Paris' CAC-40, Sanofi (SAN.PA)) was 2.4% higher, followed by LVMH Moet Hennessy Louis Vuitton (MC.PA), up by 2.2% and Kering (KER.PA), 2.1% higher and Air Liquide (AI.PA), up by 2.0%.

The pan-European Stoxx 600 Index was 1.29% higher, London's FTSE 100 Index was up by 1.10%, Frankfurt's DAX was 1.66% higher ad Paris' CAC-40 was up by 1.29% at the time of writing.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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