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European stocks close higher, all eyes on Fiat-Renault talks

On Wednesday European shares closed at a fourteen-day high, driven by a bounce-back in Italian stocks and as traders wager more solid sign of boost from national banks may help to ease worldwide log jam concerns.

frankfurt borsePhoto: Flickr

The pan-European STOXX 600 equity indicator closed 1.2 percent higher with Milan's blue-chip equity indicator .FTMIB gaining 1.8 percent, jumping back from a political collapse-driven auction.

The abdication of Italian PM Giuseppe Conte on Tuesday had made traders anxious about Rome's proceeding with the absence of political security, yet additionally flagged that another coalition course of action might be in progress.

Italy's major opposition party, Democratic Party, stated on Wednesday it was prepared to hold converses with the 5-Star Movement over framing a government after the crisis of the past, populist coalition.

On the corporate sector, car stocks .SXAP got a lift from announced merger negotiations between Fiat Chrysler and Renault.

The EU auto segment has been punched by a worldwide auto log jam with vehicle deals diving as the division struggles with the switch to electric and other alternative fuel cars.

Among individual shares, Pandora A/S stocks rallied for a second session in a row, adding 16 percent, with Wednesday's move credited by investors to a detailed buy of 24,400 stocks by CFO Anders Boyer.

Borrowing cost-sensitive banks .SX7P made the slight additions with lender-heavy Madrid shares .IBEX slacking local fellows.

Hints that administrations and national banks are prepared to venture in with extra measure to lift tightening worldwide development have supported share markets endure an unstable couple of weeks, yet the pan-Europe STOXX 600 is still on track to finish August lower.


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