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European stocks are an inch higher as oil, retail stocks soar by Reuters

© Reuters.

(Reuters)-European stocks rose on Tuesday, supported by oil and retail stocks, but investors overlooked a new domestic blockade in the UK to contain the surge in the coronavirus case.

The Pan-European Index rose 0.1% by 0814 GMT after a slight decline following losses in Asia and Wall Street, fearing a final vote in the Senate elections in Georgia, USA.

The UK rose 0.6%, with oil majors Royal Dutch Shell (LON :) and BP (NYSE :) providing the greatest support.

British fashion retailer Next surged 8.2% after saying Christmas sales were much higher than expected.

Even though the new, more contagious variants of the coronavirus first identified in the UK prompted new closures of schools and businesses, the domestically focused midcap index was up 0.2%.

The index is flat and the government is also trying to extend the blockade.

German chip maker Dialog Semiconductor PLC grew 4.7% after strong fourth-quarter earnings forecasts due to strong demand for 5G phones and tablets.

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European stocks are an inch higher as oil, retail stocks soar by Reuters

https://www.investing.com/news/stock-market-news/european-shares-inch-higher-as-oil-retail-stocks-jump-2379786 European stocks are an inch higher as oil, retail stocks soar by Reuters

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