European stocks rebound as oil, travel stocks jump

  • Reuters
  • Stock Market News
European stocks rebound as oil, travel stocks jump
Credit: © Reuters.

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

Jan 12 (Reuters) - European stocks steadied on Tuesday after declining in the last session, as investors looked to the upcoming earnings season and focused on the prospect of larger U.S. stimulus under incoming president Joe Biden.

The pan regional STOXX 600 index .STOXX rose 0.4% by 0811 GMT, with the oil & gas .SXEP and travel & leisure .SXTP sectors climbing more than 1% each to lead the gains.

Investors booked profits on Monday following last week's rally after a Democrat sweep in the U.S. Senate elections raised expectations of larger U.S. fiscal stimulus.

Oil majors BP BP.L , Royal Dutch Shell RDSa.L and Total TOTF.PA gained as crude prices rebounded on expectations of a drawdown in U.S. crude oil stockpile. O/R

Danish shipping company Maersk MAERSKb.CO rose 2.8% after brokerage Berenberg upgraded the stock to "buy", saying earnings momentum driven by freight prices could see the stock run higher. online gaming company Kindred KINDsdb.ST jumped 5% after it reported strong business momentum through the fourth quarter, while Renault SA RENA.PA rose 1.5% after the French automaker said its started 2021 with a higher level of orders than in 2019.

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