Norwegian Air gained the backing of Norway’s richest man, providing some stability to the struggling discount carrier as it searches for a new suitor following IAG’s decision to abandon its eight-month pursuit.

European stocks posted their biggest two-day gain since October 2011 on increased investor confidence that central banks will act to support markets.

A slump in oil prices is forcing the oil and gas services industry for the first time in 15 years to trim costs in a way that executives say will create a lasting change away from their usual lavish way of doing business.