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MW : Oil producers, miners advance in stronger Europe
 

y, with oil futures over $73 a barrel. Read more on crude.

Companies correlated to commodity prices were among the best performers in Europe on Thursday, with oil giant Total (FR:FP 38.55, +0.79, +2.08%) (TOT 54.93, +0.76, +1.40%) up 2.2% in Paris.

Results were also on the agenda for commodity-sector investors, with Rio Tinto (UK:RIO 2,344, +39.00, +1.69%) (RTP 155.19, +0.21, +0.14%) shares up 2%.

The Anglo-Australian mining giant's first-half net earnings fell 65% to $2.45 billion in the first half of 2008, just below analyst forecasts.

Still, the company reduced its debt by $14.8 billion during the period and the miner still expects to pay a full-year dividend. See full story.

Gains were seen in other sectors in Europe as well, with shares of Dutch supermarket operator Ahold (NL:AH 8.43, +0.28, +3.46%) up 3%.

The firm's second-quarter net income fell 42.3% to 195 million euros but beat analyst expectations after it posted higher sales at its Stop & Shop and Giant stores in the U.S. Net sales rose 11.5% to 6.4 billion euros. See full story.

"We believe the second-quarter result underlines the robustness of Ahold's business model and, with the shares trading on ten times 2010 forecast price-to-earnings, we believe they offer significant upside potential," said analyst at RBS.

Swiss cement maker Holcim (CH:HOLN 65.45, +0.35, +0.54%) climbed 6.3%. It also posted a second-quarter profit drop that beat analyst expectations. Net profit fell 35% to 453 million Swiss francs.

Banks were also strong, with UBS (CH:UBSN 16.74, -0.16, -0.95%) (UBS 16.25, +0.81, +5.25%) shares up 2.7%.

A compromise deal will see UBS hand over the details of 4,450 customers to Swiss regulators, who will then pass them on to the U.S. UBS isn't paying any fine as part of the deal. Read analyst reaction to UBS deal.

The Swiss government said late Wednesday that it will sell its stake in UBS in the wake of the agreement with the U.S. Read more on stake sale plans.
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