: BP and Shell each gain 4% as energy stocks in Europe rally

Energy stocks rallied in early trade in Europe after the surprise cut in production announced by OPEC countries over the weekend. Of Stoxx Europe 600 components, Harbour Energy UK:HBR rose 8%, Aker BP NO:AKER added 7% and Galp Energies PT:GALP gained 6%, and of the majors, TotalEnergies FR:TTE, BP UK:BP and Shell UK:SHEL each rose 4%. Most of the European stock market indexes were higher, with the FTSE 100 UK:UKX rising 0.6%.

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