Oil and gas producers gained ground on Monday to lead European stocks higher.
The Stoxx Europe 600
rose 0.7% to 469.75, with advancers including automaker Daimler
electricity operator National Grid
and oil producer TotalEnergies
gained ground, and analysts at Bank of America said $100 prices could be reached depending on how cold the next winter will be. Wholesale power prices jumped in the U.K., as wind power has been weak.
Cyclical stocks more broadly enjoyed strong demand, with the construction and materials sector and financials also advancing.
was an exception, slumping over 30% as the U.K. ended its €1.4 billion order for its coronavirus vaccine candidate.