European stocks rose, paced by airlines including British Airways Plc and trucking companies such as Exel Plc, as increased oil supplies from Iraq
Published:
29 June 2004 y., Tuesday
European stocks rose, paced by airlines including British Airways Plc and trucking companies such as Exel Plc, as increased oil supplies from Iraq and the end of a strike in Norway sent the price of crude to a two-month low.
The Dow Jones Stoxx 50 Index added 0.5 percent to 2734. The Stoxx 600 gained 0.6 percent. The Euro Stoxx 50, a benchmark for the 12 countries sharing the euro, advanced 0.8 percent.
The slide in crude eases concern about mounting costs at airlines and other oil-dependent companies that has held their shares back as benchmarks advanced. The Stoxx 600's energy group has climbed about twice as fast this year as the cyclical-goods index, which includes airlines and travel stocks. The U.S.-led coalition handed sovereignty to an interim Iraq government today, two days early.
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Bloomberg
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