European markets rose on Tuesday, as gains in retailers offset declines in energy stocks on slumping oil prices. William Morrison Supermarkets rose in London as it embarks on a search for a new CEO to lead the business back to growth, while Metro got a boost from strong December sales. But oil and gas stocks slumped as oil prices now below $45 a barrel prompted a sell-off in Tullow Oil, Hardy Oil & Gas, and France’s Total. In Amsterdam, Philips retreated after announcing that production delays at a Cleveland plant will hurt earnings more than expected.
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