Soaring oil prices good for european stocks? At least for some players

European Stocks Advance, Paced by Shell, BP Shares on Oil
April 7 (Bloomberg) — European stocks advanced for the third day in four. Energy producers including BP Plc and Shell Transport & Trading Co. paced gains on optimism near record-high oil prices will boost earnings in the industry.

With oil prices still high, their earnings outlook is OK,” said Rene Clerix, who oversees $2.6 billion of assets as head of European equities at Dexia Asset Management in Brussels. Oil companies are “increasing dividends and share buybacks, which is also boosting returns.” He’s been buying shares of Total SA, Europe’s third-largest oil company

Bloomberg