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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 rose 8%, Aker BP added 7% and Galp Energies gained 6%, and of the majors, TotalEnergies , BP and Shell each rose 4%. Most of the European stock market indexes were higher, with the FTSE 100 rising 0.6%.

-Steve Goldstein

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04-03-23 0344ET

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