Calmer Oil Picture Sustains Gains on European Bourses Midday
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European bourses rose midday Thursday, supported by calmer oil prices and gains in Asian markets. Bank and tech stocks led the upward trend, with the Stoxx Europe 600 Index up 0.5%. Despite a slight decline in euro area retail sales, year-on-year figures showed a 2% increase. Notable gains included a 1% rise in the Technology Index and a 0.7% increase in both Oil and Gas and Food and Beverage indices. Brent crude oil futures rose 2.1% to $83.13 a barrel, while the Euro Stoxx 50 volatility index indicated above-average market volatility ahead.
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