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Rising Energy Stocks Support European Equities

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Last updated: 11/22/2022 11:29:25

11:29 AM EST, 11/22/2022 (MT Newswires) -- Rising energy shares were lending support to European equities, which were moving higher in Tuesday trading after Saudi Arabia said it was not planning to increase its oil production.

American depositary receipts of European stocks were up 1.1% at 1,066.93 on the S&P Europe Select ADR Index.

In continental Europe, the gainers were led by oil companies Equinor (EQNR) and Eni (E), which rose 3.4% each. They were followed by bank Santander (SAN) and oil firm TotalEnergies (TTE), which were up 3.3% and 3%.

The decliners in continental Europe were led by food company Oatly (OTL) and bank Credit Suisse (CS), which fell 8.2% and 1.7% respectively.

In the UK and Ireland, the gainers were led by oil giant BP (BP), which rose 4.7%, followed by banking group Lloyds (LYG), which was up 1.4%

The decliners in the UK and Ireland were led by pharmaceutical company Adaptimmune Therapeutics (ADAP) and telecom Vodafone (VOD), which dropped 4.4% and 1.6% respectively.

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