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Europe Markets: Oil producers and luxury retailers lead European stocks higher

Oil producers rose on a swing higher in oil prices, and luxury-goods retailers recovered some recent losses as European stocks traded higher on Monday.

After its worst week since Feb. 26, the Stoxx Europe 600
SXXP,
+0.40%

rose 0.5% to 471.16.

Of the major regional indexes, the German DAX
DAX,
+0.10%

gained 0.2%, the French CAC 40
PX1,
+0.81%

increased 0.9% and the U.K. FTSE 100
UKX,
+0.25%

increased 0.4%.

Luxury-goods makers Kering
KER,
+3.28%

and LVMH Moet Hennessy
MC,
+3.24%

both advanced, following the stumble last week after China President Xi Jinping said the country would tackle income inequality.

BP
BP,
+2.14%
,
Royal Dutch Shell
RDSA,
+1.24%

and TotalEnergie
TTE,
+1.01%

s were all beneficiaries of the 3% rise in crude-oil prices
CL.1,
+3.73%
.

J Sainsbury
SBRY,
+15.30%

was the biggest Stoxx 600 gainer, up 15% after the Sunday Times said Apollo was weighing whether to make a bid for the grocery chain, or join a consortium led by Fortress that’s considering a counterbid for rival Wm Morrison Supermarkets
MRW,
+0.10%
.

Cembra Money Bank
CMBN,
-29.24%

dived 29% after saying the ending of a credit-card partnership with retailer Migros will hit next year’s profits by 10% to 15%.

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