MILAN, May 9 (Reuters) - European shares were supported onWednesday by strength in oil stocks after U.S. President DonaldTrump pulled the United States out of Iran's nuclear agreement,boosting crude prices.
While some solid earnings updates also provided support,shares in companies with exposure to Iran fell, with plane makerAirbus and car makers Renault and PSAtrading down between 0.4 and 1.7 percent.
By 0727 GMT, the pan-European STOXX 600 had risennearly 0.2 percent, while higher crude prices helped thecommodity-stocks-heavy FTSE index gain 0.4 percent.
Oil and gas was the biggest sectoral gainer, with its indexup 1.5 percent at a three-year high as crude ralliedafter Trump's move on Iran raised the risk of conflict in theMiddle East and cast uncertainty over global oil supplies.
Shares in oil majors Total, Royal Dutch Shelland Eni were all trading up between 0.9 and 2percent.
But higher oil prices weighed on travel stocks likeairlines, whose sector index was also hit by a drop inEurope's largest travel and tourism group TUI Group, asits earnings update failed to inspire.
Elsewhere, Siemens rose 4.2 percent after theGerman industrial giant raised its full year profit guidance,offsetting worries over exposure to Iran.
AB Inbev gained 3 percent after a reassuringquarterly update from the world's largest brewer.(Reporting by Danilo MasoniEditing by Catherine Evans)