LONDON (ShareCast) - European markets have opened higher with a rally in crude oil prices giving energy shares a lift.
Total, Royal Dutch Shell (Amsterdam: RDSA.AS - news)
and Eni (Milan: ENI.MI - news) are up after crude oil settled above $70 per barrel for the first time in seven months as the dollar retreated against major rivals.
Crude for July delivery rose $1.92 to settle at $70.01 a barrel on the New York Mercantile Exchange yesterday. Earlier it touched a high of $70.18.
Across the markets, the German DAX is up 83 points at 5,081 with the French CAC rising 51 points to 3,347. The Swiss market is up 61 points to 5,449.
In other corporate news, the US Supreme Court has cleared the way for the sale of assets by bankrupt car maker Chrysler (Xetra: 710000 - news) to a group led by Italian car giant Fiat (Milan: F.MI - news) .
The sale had been put on hold after opponents of the deal, most notably three Indiana pension funds that own Chrysler secured loans, wanted the asset sale investigated more thoroughly by the Supreme Court.
CAC 40 (Paris: news) - Risers
ArcelorMittal SA (MT) € 24.99 +3.97%
Lagardere SCA (MMB) € 23.97 +2.72%
Total (FP) € 42.42 +2.71%
PPR (Paris: FR0000121485 - news) (PP) € 62.40 +2.40%
Air France (Paris: FR0000031122 - news) -KLM (AF (Stockholm: 45674.ST - news) ) € 10.16 +2.31%
ST Microelectronics (Paris: NL0000226223 - news) (STM) € 5.66 +2.28%
Alstom (ALO) € 45.30 +2.26%
Alcatel (Paris: FR0000130007 - news) -Lucent (ALU) € 2.01 +2.24%
Lafarge (Paris: FR0000120537 - news) (LG (003550.KS - news) ) € 49.90 +2.18%
Societe Generale (Paris: FR0000130809 - news) (GLE) € 42.71 +2.03%
CAC 40 - Fallers
Saint Gobain (Paris: FR0000125007 - news) (SGO) € 26.60 -1.30%
Unibail-Rodamco (UL) € 112.71 -0.03%
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