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European shares rise as strong China data boosts recovery hopes

Published 11/16/2020, 04:24 PM
Updated 11/16/2020, 04:30 PM
© Reuters.
VOD
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STOXX
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SX7P
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
Nov 16 (Reuters) - European shares rose on Monday, hovering
near their nine-month highs, as strong China data and hopes of a
COVID-19 vaccine renewed bets for a quicker economic recovery.
China's factory output rose faster than expected in October
and retail sales surged as the recovery in the world's
second-largest economy from its COVID-19 slump gathered
momentum. The pan-European STOXX 600 .STOXX rose 0.7% by 0805 GMT,
with banks .SX7P and travel stocks .SXTP gaining the most.
Vodafone Group VOD.L , the world's second-largest mobile
operator, gained 2.6% after it said it was increasingly
confident about its full-year performance following a
"resilient" first-half, despite underlying momentum being
obscured by the impact of COVID-19.

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