Europe ends sharply higher despite oil slump; Lloyds up 13% – CNBC

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Brent crude fell into over 50 cents to last stand around $33.80, while U.S. WTI crude fell over 2 percent, last trading around $31.40. Oil and gas stocks however shook off the price decline, with Seadrill closing up near 9 percent and Statoil up 3 percent.

French oil firm, Technip led the sector, finishing up over 11.5 percent, after the company posted its fourth-quarter earnings. In the report, the company said while it expects business to dip during this coming year, it believes its 2016 dividend is well covered, according to Reuters.

Basic Resources was the only sector to close in the red, as a decline in metal prices weighed on stocks. Rio Tinto closed over 3.5 percent down.

Europe ends sharply higher despite oil slump; Lloyds up 13% – CNBC