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European shares near 3 week high on US stimulus hopes

Written by Business World, on 8th Oct 2020. Posted in EU

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European stocks resumed gains on Thursday, inching closer to a three-week high on expectations of a targeted U.S. stimulus package as well as positive corporate updates.

The pan-European STOXX 600 index rose 0.7% by 0707 GMT, with travel and leisure, industrial and chemical sectors leading the gains.

Wall Street indexes surged overnight on signs that talks over aid to the pandemic-ravaged airline industry were progressing in Washington even as U.S. President Donald Trump called off talks on a more comprehensive deal.

Ratos AB jumped 11.3% after U.S. business analytics company Dun & Bradstreet said it would acquire Europe's Bisnode from the Swedish private equity firm.

Mediobanca rose 2.4% after eyewear tycoon Leonardo Del Vecchio raised his stake to just above 10% in Italy's top investment bank.

Sensor maker AMS slipped 3.1% as it posted third-quarter sales near the upper end of its guidance range and announced issuance of bonds to secure long-term financing. (Reuters)

Source: www.businessworld.ie

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