Stocks Gain; Crude Oil Surges on Russia Sanctions: Markets Wrap

European stocks hovered near a record peak as third-quarter earnings continued to flow in. Crude oil jumped to a two-week high after US President Donald Trump imposed sanctions on Russia’s biggest producers.

The Stoxx Europe 600 index gained about 0.2%, with energy stocks climbing more than 2%. Nokia Oyj jumped 10% after third-quarter profit blew past analyst estimates, driven by demand for artificial intelligence and cloud services. Gucci owner Kering SA surged after reporting better-than-feared sales. Software firm Dassault Systemes SE and gambling operator Evolution AB plunged after underwhelming results.

Futures on the S&P 500 and Nasdaq 100 edged higher, ...