European stock benchmarks made modest gains on Thursday as oil prices rose and Spain's Repsol (REPYY) became the latest in a parade of oil producers to report well-received quarterly numbers.
In London, the FTSE 100 was recently up 0.43% 6,138.39. In Frankfurt, the Dax rose 0.29% to 9856.90. And in Paris the Cac 40 gained 0.10% to 4,328.56 Both Germany and France have a public holiday today, though stock exchanges are open.
Brent crude was recently up 2.67% at $45.81 per barrel.
S&P 500 mini futures were recently up 0.38%.
In Madrid, Repsol jumped well over 4% after announcing its upstream unit had swung into the black in the first quarter thanks to cost cuts and other reorganization measures. The company's quarterly Ebitda on a current cost of supplies basis rose 6% to €1.24 billion ($1.42 billion). The report followed good news on earnings from BP (BP) and Total (TOT) last week. Among other oil sector gainers on Thursday Tullow Oil (TUWOY) jumped more than 6% in London.
Also in London telecom BT (BT) rose more than 3% after reporting an above-forecast 6% rise in Ebitda, strong growth in TV subscriber numbers and a plan to increase the dividend by 10% this year and next.
Utility Centrica (CPYYF) (CPYYY) , the parent of Direct Energy, plunged more than 7% after announcing plans to issue shares equivalent to 7% of its share capital to pay for two acquisitions. Based on yesterday's closing price the share issue would be worth £808.9 million ($1.17 billion).