European shares climb on Just Eat Takeway.com boost

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European shares climb on Just Eat Takeway.com boost

European shares climbed on Wednesday, as Norwegian oil and gas workers called off their strike and assuaged fears of a heightened energy supply crunch

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European shares climbed on Wednesday, as Norwegian oil and gas workers called off their strike and assuaged fears of a heightened energy supply crunch, while Just Eat Takeaway.com rose after Amazon (NASDAQ:AMZN) agreed to buy a stake in unit Grubhub.

The continent-wide STOXX 600 was up 1.3% by 0713 GMT, a day after the strike in Norway cut oil and gas output and exacerbated worries over inflation.

Germany’s DAX gained 1.4% after losing almost 3% in the previous session. Data showed German industrial orders grew surprisingly in May, reversing the trend after a third consecutive monthly drop.

Retail and travel and leisure stocks rose 2.6% and 2.2%, respectively, to led gains among the European sectors.

Among single stocks, Just Eat Takeaway.com jumped 14.2% after Amazon agreed to take a 2% stake in struggling U.S. meal delivery business Grubhub and said it will offer its Prime members access to the service for one year.

Shares of Faurecia fell 4.3% after Barclays (LON:BARC) double-downgraded its rating on the French car parts maker’ stock to “underweight”.

Retail sales data of euro zone is scheduled for 0900 GMT.

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