European shares rise, supported by the energy sector

European shares rose on Thursday after gross domestic product data from Germany, the continent’s largest economy, beat analysts’ expectations. At the same time, concerns ahead of the minutes of the European Central Bank’s latest meeting limited gains.

The pan-European Stoxx 600 index was up 0.6 percent by 0712 GMT. Energy stocks jumped 1.2 percent, approaching a 12-week high, as crude oil prices rose on rising concerns about tight supplies.

Germany’s DAX climbed 0.8 percent. And the German economy grew by 0.1 percent in the second quarter, exceeding analyst expectations, supported by private sector and government spending despite the energy crisis.

Market focus is also on the ECB’s July meeting minutes, due for release later. The bank beat expectations at that meeting and raised the interest rate by 50 basis points.