European stocks pare gains with oil as Credit Suisse falls

European stocks pared Thursday an earlier advance as oil trimmed its rise while the euro strengthened.

The Stoxx Europe 600 Index gained 0.2 percent at 9:10 a.m. in London, paring a rise of as much as 1.1 percent. Oil shares and miners led the rally, jumping more than 2 percent as a slump in the dollar sent the price of commodities higher. Even Royal Dutch Shell Plc, which reported a slump in profit, climbed 3.6 percent.

Reactions to earnings were mixed. ING Groep NV jumped 8 percent as quarterly profit beat estimates. Munich Re climbed 3.8 percent after saying it will increase its dividend more than expected. Credit Suisse Group AG slumped 11 percent after posting a quarterly loss as it wrote off goodwill and set aside provisions for litigation, while its two investment-banking divisions slumped.

Source: Bloomberg