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Europe shares end higher as HSBC, oil stocks gain

Mon May 12, 2008 11:37am EDT
 
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FRANKFURT, May 12 (Reuters) - European shares rose in quiet trade on Monday led by HSBC (HSBA.L: Quote, Profile, Research, Stock Buzz), Europe's biggest bank, on better-than-expected results, and energy stocks, on the back of high crude oil prices.

The FTSEurofirst 300 index of top European shares closed unofficially at 1,346.23 points, up 0.3 percent. Volumes in Europe were thin due to partial holidays in some countries.

HSBC climbed 2.0 percent. Among energy stocks, France's Total (TOTF.PA: Quote, Profile, Research, Stock Buzz) rose 1.3 percent and British group BP (BP.L: Quote, Profile, Research, Stock Buzz) was up 1 percent.

Crude CLc1 traded 64 cents lower on the day at $125.31 a barrel but was still within striking distance of record highs. (Reporting by Peter Starck)

 

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