European Stocks Rise for a Fifth Week as Energy Shares Rally
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European equities rose for a fifth week as oil companies gained on Friday and investors digested the latest developments in Brexit negotiations.
The Stoxx Europe 600 Index added 0.6% by the close in London, bringing the advance in the week to 0.2%. Energy shares led sector gains today as oil bounced after OPEC+ reached a compromise deal to gradually taper production cuts. That added to the FTSE 100 Index’s outperformance, with the gauge up 0.9% even as the British government said the prospects of an imminent Brexit trade deal had receded.