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European stocks rally, DAX up 1%

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 25, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - The stock markets across Europe advanced on Wednesday on account of a rebound in travel companies.

    The pan-European Euro Stoxx 600 index was up 0.60% at the time of writing. The blue chip Euro Stoxx 50 added almost 1%. Among regional indices, Germany’s DAX was up 1%, followed by a 1.2% rise in France’s CAC.

    Among Euro Stoxx 600 index, Thomas Cook Group was the top gainer; up 10%, while shares in National Bank of Greece were down more than 20%. Deutsche Lufthansa AG added 3.6% and TUI AG climbed 2.2%.

    UK builders Persimmon Plc, Berkeley Group Holdings Plc and Taylor Wimpey Plc rose more than 2% each ahead of Chancellor of the Exchequer George Osborne’s Spending Review presentation to Parliament. Osborne is expected to boost the home ownership program.

    Risk-on sentiment had taken a hit yesterday after after Turkey’s military shot down a Russian warplane, with Russian President Vladimir Putin pledging “serious consequences” for the attack. However, the US markets recovered from the initial dip and thus stabilized risk sentiment in the market.
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