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BP and Royal Dutch Shell rallied on Tuesday, buoyed by the gains in the oil market that have lifted crude oil off decades lows.
With both the Brent BRN00, +7.83% and West Texas Intermediate CL.1, +10.64% contracts surging, extending gains that have brought the Brent contract on the precipice of $30 per barrel, shares of BP BP, +5.28% rose 5% and shares of Royal Dutch Shell RDSA, +5.20% advanced 4.7%.
The gains came as both Total and Repsol maintained their dividends among European rivals. Shell last week cut its dividend by two thirds.
The broader FTSE 100 CCL, +5.14% rose 1.3% to 5829.82.
Cruise operator Carnival CCL, +5.14% was another advancer, helped by its announcement on Monday it was eyeing a late August date to resume some of its operations.
British Airways owner International Consolidated Airlines Group IAG, -2.40% was one of the worst performers, slipping 2.6% to take year-to-date falls to 68%.
