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Europe stocks extend gains as oil boosts energy

Thu Jul 9, 2009 4:47am EDT

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PARIS, July 9 (Reuters) - European stocks extended their early gains on Thursday, up 1 percent, as a rebound in oil prices CLc1 boosted shares of energy companies such as Total (TOTF.PA).

At 0837 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was up 1 percent at 825.12 points, snapping a five-session losing streak.

U.S. crude oil prices bounced back, gaining more than $1 at $61.20 a barrel on Thursday. Total was up 1 percent, Repsol (REP.MC) gained 0.8 percent and Royal Dutch Shell (RDSa.L) rose 0.8 percent.

But Europe's biggest gainers were mining and steel shares, rising after Alcoa's (AA.N) reassuring results late on Wednesday.

Xstrata (XTA.L) was up 3.1 percent and BHP Billiton (BLT.L) was up 3.3 percent. (Reporting by Blaise Robinson, editing by Atul Prakash)



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