(RTTNews) - The European markets rose for the fourth day on Monday, as energy and mining stocks rallied after crude oil and metals prices climbed.

In economic news, the U.S. Commerce Department said in its report that retail sales increased by 1.4% in October following a revised 2.3% decrease in September. Economists had expected sales to increase by 0.9% compared to the 1.5% decrease originally reported for the previous month.

Japan’s Cabinet Office said the country’s economy grew at an annual 4.8% rate in the third quarter, topping the 2.9% growth forecast by economists.

Crude for December delivery rose $2.29 to $78.64 a barrel on the New York Mercantile Exchange, by the time the European markets closed, on the back of a weaker dollar and rising stock markets worldwide.

The FTSEurofirst 300 index of pan-European blue chips closed 1.48% higher at 1,034.45 points, while the narrower DJ Stoxx 50 index rose 1.47% to 2,546.37 points.

Around Europe, the U.K.’s FTSE 100 index surged up 2.01% to 5,382.67, while France’s CAC 40 index rose 1.50% to 3,863.16 and Germany’s DAX index climbed 2.07% to 5,804.82.

Heavily weighted oil stocks rallied after crude oil prices advanced. BP, Europe’s biggest oil company, rose 1.2%, while Royal/Dutch Shell, the second biggest, surged up 1.4% and Total, the third biggest, climbed 1.6%.

Similarly, mining stocks gained after copper, zinc and lead prices rose in London. BHP Billiton, the world’s biggest miner, rose 2.6%, while Anglo American, the second biggest, surged up 4.1% and Rio Tinto, the third biggest, climbed 5.5%. Copper miner Antofagasta gained 7.6%.

ThyssenKrupp, Germany’s biggest steelmaker, surged up 4.5% after the company said it is selling its Safway unit to Odyssey Investment Partners LLC for an undisclosed price.

Tandberg rose 3.6% after Cisco, the world’s biggest networking gear maker, raised its offer for the world’s second biggest maker of videoconferencing equipments to $3.4 billion.

Shares of automakers gained after the European Automobile Manufacturers’ Association said in a report that European passenger car registrations grew 11.2% year-on-year in October compared to a marked decrease of 14.4% in October 2008. Volkwagen, Europe’s biggest carmaker, rose 1.1%, while Peugeot, the second biggest, climbed 4.5% and Renault, France’s second biggest carmaker, surged up 3.2%.

Yara International, the world’s biggest fertilizer maker, rallied 5.1% after Citigroup upgraded the stock to “buy” from “hold.”

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Posted in Categories: Eurozone, Japan, Releases, Stocks, USA.

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