European stocks edge higher, Energy shares supported by ‎OPEC+ decision ‎

European stocks rose at the beginning of trading today, Monday, after ending a volatile quarter on the rise, with shares of the leading oil companies rising after an announcement from OPEC + about further production cuts.

According to “Reuters”, the European Stoxx 600 index rose 0.1 percent by 0710 GMT in the first trading session in the new quarter, after achieving successive gains in the past two quarters.

Shares of oil and gas companies were the biggest gainers, and the sector index rose 3.6 percent, close to recording its best day in four months.

Crude oil prices jumped more than five percent after Saudi Arabia and other oil producers in OPEC + announced on Sunday additional cuts in oil production by about 1.16 million barrels per day.

Shares of giant oil companies such as Total, Shell and BP rose four percent each

Investors will be closely watching eurozone manufacturing data for March, due to be released later today, to assess the strength of their economies.

UniCredit shares rose 0.5 percent as the bank started the first tranche of its share buyback program on Monday, amounting to 2.34 billion euros.

DSV Logistics Services fell 2.8 percent after a new offering of its shares.