European stocks end trading on a mixed note after the OPEC + decision

European stock indices ended the trading session of Monday, April 3, with mixed results, amid gains in the oil and gas sector after the OPEC + decision.

At the end of the session, the STOXX600 index fell by less than 0.1% to 457 points, amid an increase in the shares of oil and gas companies by 4%.

The German DAX fell by 0.31%, recording 15,580 points, while the British FTSE rose by 0.54%, at 7,673 points, and the French CAC rose by 0.32%, to 7,345 points.

The gains in oil and gas stocks came with the support of a sudden decision by OPEC + to voluntarily cut production, starting from next month until the end of 2023.

Banking shares also rose by 0.6%, while all remaining sectors declined, amid a decline in financial services by 1.4% and mining by 1.3%.

The pound sterling and the euro jumped against the US dollar, as the countries had risen in the beginning of trading after the OPEC + decision, but then declined.

UBS fell 2.8% on reports that the entity resulting from the bank’s acquisition of Credit Suisse will reduce the workforce by 20-30%.

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