Oil stocks help European stocks rebound after four-day losing streak


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November 24 (Reuters)European stocks rebounded on Wednesday after a four-day streak of straight losses as higher commodity prices helped offset fears about the worsening COVID-19 situation in Europe and the prospect of severe restrictions have weighed on the economic outlook.

The pan-European STOXX 600 .STOXX climbed 0.5% at 08:25 GMT after posting their worst session in nearly two months on Tuesday amid a resurgence in coronavirus cases and fears of rising interest rates.

Oil stocks .SXEP rose 0.9% as crude prices edged up as investors remained skeptical about the effectiveness of a US-led release of oil from strategic reserves. WHERE

Minors .SXOP gained 1.2%, following higher copper prices as concerns about Chinese demand eased. MET / L

Telecom Italy TLIT.MI jumped 8.3% following reports that KKR plans to strengthen its offering for the company after its main investor Vivendi VIV.PA called the initial too low.

French catering company Elior Group ELIOR.PA rose 2.6% after announcing new targets for its next fiscal year and posting its best quarter since the start of the pandemic.

Automatic warehouse AUTO.OL added 5% after the Norwegian robotics company posted a 95% increase in revenue in the third quarter.

(Reporting by Anisha Sircar in Bangalore; Editing by Shailesh Kuber)

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Steve R. Hansen