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    07.07.2016 10:54 European stocks on the rise

    07.07.2016 10:54

    In today's trading, European stocks are actively growing for the first time in four sessions after the UK market and Italian banks, investors are counting on a gradual stabilization of the situation in the region.

    The composite index of Europe's largest enterprises Stoxx 600 rose by 1.6% - to 323.80 points, an increase is observed in all 19 industry groups indicator. Over the previous three sessions Stoxx 600 fell by 4.1%.

    The value of the UK's FTSE 100 increased 1.5% after the decline of the pound after and improvedvprospects for companies profits.

    Some support for market was given by the minutes of the last meeting of the Federal Open Market Committee (FOMC) that showed the majority of the Central Bank managers still prefer to refrain from raising interest rates.

    Investors were also evaluating data on British industrial production. Industrial production fell less than expected in May, data showed on Thursday, the Office for National Statistics said.

    The volume of industrial production decreased by 0.5 percent in May after the growth with 2.1 percent in April. It was the biggest drop in the past five months, but less than the expected decline of 1 per cent.

    In addition, manufacturing output fell by 0.5 percent, in contrast to an increase of 2.4 percent a month ago.

    In annual terms, industrial production growth slowed to 1.4 percent in May, compared with 2.2 percent. Economists had forecast an increase of 0.5 percent.

    Shares of the largest Italian bank Unicredit rose 1,3%, Intesa Sanpaolo 2,6%, Banca Monte dei Paschi di Siena - by 1.4%.

    Securities of Associated British Foods Plc jumped 5.7% due to better annual profit forecast due to the weakening pound.

    The market value of the French Danone SA, the world's largest yogurt maker, climbed 4.3% after the purchase announcement of American WhiteWave Foods Co. for $ 12.5 billion including debt.

    Shares of Rentokil Initial Plc rose 5.4%. The Company has agreed to acquire US distributor of means to combat pests Residex LLC for $ 30 million.

    At the moment:

    FTSE 6561.80 98.21 1.52%

    DAX 9473.28 100.02 1.07%

    CAC 4148.61 63.31 1.55%

     

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