AMSTERDAM/LONDON: European stocks rose on Wednesday, led by a charge in energy shares as oil prices hit two-year highs, while strong regional earnings reports and signs of speedy economic recovery offset concerns about a rapid rise in US prices.

The pan-European STOXX 600 index rose 0.3% after falling almost 2% on Tuesday, their worst selloff this year.

The European oil & gas index jumped 2.0%, with shares of Royal Dutch Shell Plc, BP Plc, Paris-listed shares of TechnipFMC rising over 3.5% each.

German lender Commerzbank jumped 8.6% after it beat expectations for first-quarter profit and raised its revenue outlook.

Spirits maker Diageo rose 3.4% on restarting its capital return program, while Amsterdam-based technology investor Prosus NV gained 2.1%, buoyed by plans to acquire up to 45.4% of shares in its parent Naspers.

French video games company Ubisoft fell 11.1% after it warned that operating profit might fall this financial year.

A jump in crude prices driven by signs of a swift economic rebound and upbeat forecasts for energy demand also pushed London’s FTSE 100 index up 0.8%.