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European shares near three-week high on U.S. stimulus hopes

Published 08/10/2020, 08:52
Updated 08/10/2020, 08:55
© Reuters. The German share price index DAX graph at the stock exchange in Frankfurt

(Reuters) - 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 (STOXX) rose 0.7% by 0707 GMT, with travel and leisure (SXTP), industrial (SXNP) and chemical (SX4P) 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 (ST:RATOb) jumped 11.3% after U.S. business analytics company Dun & Bradstreet (N:DNB) said it would acquire Europe's Bisnode from the Swedish private equity firm.

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

© Reuters. The German share price index DAX graph at the stock exchange in Frankfurt

Sensor maker AMS (S: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.


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