European stocks increase following Wall street gains

European stocks have risen in lines with the gains on Wall Street as a reduction in oil prices and a stronger dollar has improved the financial position of both retailers and exporters.

Following the fall of oil, analysts recommended the shares of Carrefour SA and Home Retail Group Plc.

Carrefour increased by 2.3 percent to 45.02 euros in a period where crude oil for July fell 1.3 percent to $126.06 a barrel, which pales in comparison to the record of $135.09 on May 22nd.

Syngenta AG, the world’s biggest maker of agricultural chemicals, gained 1.9 percent, whilst Philips, Europe’s largest consumer electronics maker, increased by 2.1 percent.

Outside of retail, the Royal Bank of Scotland Group Plc, the UK’s second-biggest bank, gained 7.6 percent amid speculation of a new rights issue, although RBS declined to comment on the issue.

Although many of the world’s major airlines are struggling at the moment, Ryanair Holdings Plc increased by 8.3 percent to 2.85 euros and Europe’s biggest discount airline stayed in the black as a result of increased ticket prices, baggage charges, eliminating call-centre jobs, freezing salaries and boosting check-in fees, in order to counter record oil prices.

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