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BUZZ-European oil and gas: Playing the recovery

Reuters - UK Focus

** Oil and gas companies among the biggest risers on the Stoxx 600 after U.S. President Donald Trump's Iran deal pull-out pushes oil to its highest since 2014

** Stoxx Oil and Gas index up 1.7 pct, the best performing sub-index of the Stoxx 600 -- top performers are Tullow Oil (LSE: TLW.L - news) (+6.1 pct), Lundin Petroleum (LSE: 0NNR.L - news) (+3.2 pct) and TechnipFMC (+3.1 pct)

** "If you are a fund manager and you want to play oil, Tullow’s the first thing you buy, just because it is the biggest, it’s got the most liquidity," says Canaccord Genuity (Frankfurt: A0B6V4 - news) analyst Alex Brooks

** Bernstein analyst Nicholas Green - "TechnipFMC is being used by many generalist investors as a vehicle to play offshore recovery... offshore recovery looks better the higher the oil price goes"

** "We do find that names like TechnipFMC are disproportionately benefitting from the renewed optimism that comes from offshore," Green adds