Europe finishes higher as OPEC reaches output deal

11/30, 5:56 PM (Source: TeleTrader.com)

Major equity indexes in Europe ended the session in the green on Wednesday, buoyed by rising oil prices as the Organization of Petroleum Exporting Countries (OPEC) said today it agreed to cut oil production.

The FTSE 100 closed just 0.09% above the flatline in London on gains bagged by energy stocks.

The German DAX settled 0.19% in the green. Linde AG, an industrial gases and engineering company, jumped 4.73% on closing after news emerged it is considering fresh merger overture from the American Praxair Inc.

In Paris, the CAC 40 finished 0.59% higher.

The Italian FTSE MIB index outperformed, rising 2.23% when markets closed. Saipem S.p.A., an oil and gas industry contractor, came out on top with gains of 9.61%.

The euro plunged 0.57% against the U.S. dollar to go for 1.05844 at 5:55 p.m. CET, and plummeted 0.59% versus the British pound, changing hands at 1.1805.

Teletrader Newsroom / IB