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European stocks rally ahead of US GDP release

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The stock markets across Europe advanced, tracking the rally on Wall Street and oil price strength.

    At the time of writing, the pan-European Euro Stoxx 50 index was up 2.4%. Germany’s DAX was up 2.47%, while UK’s FTSE was up 1.35%. France’s CAC was trading higher by 2.2%.

    Shares in Royal Bank of Scotland tumbled 10% following disappointing results. The bank reported a full-year loss of $2.76 billion. Denmark's Erste Bank was up over 2% after the lender reported better-than-expected fourth-quarter.

    Commodity stocks like Glencore and steelmaker Arcelormittal rallied after Chinese policymakers said the economy is still in a good shape.

    The investors now await the US preliminary Q4 GDP data and personal spending report.
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