Europe Shares Rise in Late Trade as Oil Boosts Energy Companies
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European stocks erased declines to advance in the final minutes of trading as oil rebounded and investors assessed value after some disappointing earnings reports.
A measure of energy companies recovered in afternoon trade as oil rose after data showed stockpiles at the biggest U.S. storage hub dropped. Royal Dutch Shell Plc added 2.9 percent after winning shareholder approval to buy BG Group Plc, which gained 3.5 percent. BASF SE lost 1.8 percent after the world’s largest chemical maker said it will book a 600-million euro ($652 million) charge in the fourth quarter because of lower oil and gas prices.