Europe stocks edge higher as oil eases, PMI data beats forecasts
VGK•Oil weakness and stock moves
Retreating crude prices also supported risk sentiment, with investors watching to see whether the relief could prove short-lived.
"Until we really see the number of ships transiting straight to four weeks increase, there is a potential for debt buying in oil, which means that gains in stocks could be fragile," said Stonex's Cincotta, adding that "for now, the markets are taking it as a win."
Oil prices extended their declines for a sixth consecutive session as investors assessed the prospect of increased Gulf supplies after Saudi Arabia restarted operations at a key pipeline. Energy stocks .SXEP, however, rose 0.2%. O/R
Traders are also await a meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping, which would be closely watched for clues on trade relations and the global economic outlook.
There could be potential cooperation over AI too, with U.S. Treasury Secretary Scott Bessent flagging talks on AI safety.
