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 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.
European shares slide as soaring gas prices fuel inflation concerns
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 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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