European Stocks Climb as Automakers, Energy Companies Advance
(Bloomberg) -- European stocks climbed after completing their longest monthly winning streak since 2013, as carmakers gained and energy producers tracked crude prices higher.
The Stoxx Europe 600 Index added 0.4 percent at the close. Cyclical sectors led gains, while defensive groups including utilities and telecommunication companies declined. The benchmark yesterday closed lower for a sixth session, signaling a loss in momentum in the rally that pushed it higher for four straight months.
- The U.K.'s FTSE 100 Index rose for the first time in three days, up 0.3 percent. Ahead of next week's general election, polls show the Conservative Party's lead has narrowed since earlier surveys. Prime Minister Theresa May faced criticism from other party leaders for skipping a televised debate on Wednesday night.
- Barclays Plc added 0.5 percent after increasing the size of placing in its Africa unit, citing strong demand.
- Stoxx 600 oil and gas shares advanced 0.4 percent on Thursday as crude prices rebounded from yesterday's selloff. Energy producers still remain the worst performers among European industry groups in 2017.
--With assistance from Elena Popina
To contact the reporter on this story: Namitha Jagadeesh in London at njagadeesh@bloomberg.net.
To contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net, Richard Richtmyer
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