Oil Firms Boost Europe Stocks In Upbeat Trade

European stock markets moved higher in early action on Wednesday, with oil firms in the lead after a well-received earnings report from Total SA .

Investors were also waiting for hints from the U.S. when markets reopen later in the day after a two-day closure on the back of what had been Hurricane Sandy.

The Stoxx Europe 600 index added 0.4% to 272.77, with Total up 1.7%. Among U.K. oil firms, Royal Dutch Shell PLC gained 0.7% and BP PLC picked up 0.9%. The FTSE 100 index traded 0.3% higher at 5,865.55. Steel maker ArcelorMittal SA dropped 2.5% in Paris after cutting its dividends.

The CAC 40 index rose 0.6% to 3,481.09. Germany’s DAX 30 index gained 0.7% to 7,331.48.

Marketwatch