European stocks rose on Wednesday, led by a surge in energy shares as oil prices hit two-year highs, while strong regional earnings reports and signs of speedy economic recovery offset concerns about a rapid rise in US prices. Glenveagh Properties dropped 1.6 per cent to about 99 cent, and Cairn Homes was down 2.2 per cent at €1.06. Shares of oil giants Royal Dutch Shell and BP rose 3 per cent and 3.5 per cent respectively. EuropeThe pan-European Stoxx 600 index rose 0.3 per cent after falling almost 2 per cent on Tuesday. The European oil and gas index jumped 2 per cent.

Source: The Irish Times May 12, 2021 17:49 UTC