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Commodity gains push European stocks to 1-week high

Published 26/03/2021, 09:19
© Reuters.

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
March 26 (Reuters) - European stocks rose on Friday, helped
by gains in commodity-linked companies as investors balanced
worries about surging coronavirus cases with the prospect of a
strong U.S. economic recovery.
The pan-European STOXX 600 index .STOXX rose 0.8% by 0810
GMT, hitting a one-week high. The benchmark was on course for
its fourth straight weekly rise.
Mining .SXPP and oil & gas stocks .SXEP were the top
gainers in Europe, up 2.1% and 1.8%, helped by higher commodity
prices. MET/L O/R
UK-listed copper miner Kaz Minerals Plc KAZ.L rose 2.9%
after it received a final bid worth 4.02 billion pounds ($5.53
billion) from Chairman-led Nova Resources. Market sentiment, for most part of the week, was weighed
down by worries about new lockdowns and a slow pace of
vaccination in the euro zone, but optimism about a
stimulus-driven recovery in the United States brightened the
outlook for global growth.
British insurer Aviva AV.L was up 2.1% after it sold its
Polish operations to Germany's Allianz ALVG.DE for 2.5 billion
euros ($2.94 billion) in cash. Allianz gained 1.3%.

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