Oil names lead gains in Europe
STOXX 600 up 0.3%
Crude rises, oil stocks up
Airlines fall
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OIL NAMES LEAD GAINS IN EUROPE
European stock markets are in positive territory, with the STOXX 600 rising 0.3% in spite of investor jitters amid the escalation in the Middle East.
The situation is pushing the price of oil up 2.3%. The rise in crude is filtering into European oil and gas stocks .SXEP - today's best-performing sector - up 2.3% and on track for their biggest daily jump since April.
Shell .SHEL.L and BP BP.L are two of the biggest positive weights on the FTSE, rising 2.5% and 2.4%, respectively. Norway's Equinor EQNR.OL is up 3.9%.
Worst off are real estate names .SX86P and utilities .SX6P, down 1% and 0.8%, respectively.
Shares in European airlines and travel companies are also falling, as airlines scramble to divert flights from the Middle East. Lufthansa .LHAG.DE is down 3.2% and Easyjet EZJ.L is off 2.1%.
Sports fashion retailer JD Sports JD.L is one of the biggest decliners, dropping 3.7% despite some positive results.
French IT group Sopra Steria Group SOPR.PA is at the top of the STOXX, up 4.8% after announcing a 150 million-euro share buyback.
(Lucy Raitano)
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