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European stocks advance as commodity shares rally

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Oil price gains and the resulting rise in commodity shares pushed the major European indices higher in early trading on Friday.

    At the time of writing, pan-European Euro Stoxx 50 index was up 1.10%. Germany’s DAX and France’s CAC were up 0.80% each. UK’s mining heavy FTSE was up 0.82% as well. The broader Stoxx 600 index was up 0.52%.

    Mining heavyweights in the UK like Rio Tinto, Glencore, Weir Group, Anglo American were up at least 2% each. Germany’s RWE AGT ST 2.66%. Meanwhile, losing side included names like Swisscom.

    On the macroeconomic front, German exports bounced back, rising more than expected in February and at their fastest pace since September.
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