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11/12/2018, 9:16 AM (Source: TeleTrader)
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Europe starts higher amid rising oil prices

European stocks started trading with gains on Monday amid reports that Saudi Arabia agreed to reduce the production of oil by half a million barrels per day next month. In Abu Dhabi, the joint ministerial monitoring committee of the Organization of the Petroleum Exporting Countries (OPEC) and Russia indicated the intention to cut output, causing the oil prices to surge on Monday.

The DAX advanced 0.30% with Volkswagen AG trading 1.15% in the green, while the FTSE 100 increased 0.67% in the early trading on Monday. Rio Tinto Plc was the best trading stock adding 3.90% The CAC 40 was 0.54% higher led by TechnipFMC gains of 3.81%. The euro was 0.76% lower against the dollar changing hands for 1.1250 at 9:16 am CET.

Breaking the News / SS