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Exporters and Pharmas Boost Europe |
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Author: Elena Todorova
123jump.com
Last Update: 12:29 PM EST November 29 2006
European stock markets closed sharply higher, ending a five-session losing streak. The markets reversed from weakness after comments from Fed Reserve Chairman Ben Bernanke helped the U.S. dollar recover vs. the euro and the pound. The recovery of the greenback reflected strength in the shares of exporter stocks. BMW and DaimlerChrysler both gained 1%, while Voklswagen rose 4.3%. The French CAC 40 led regional gainers, rising 1.4%, followed by the German DAX 30, up 1.3%, and London FTSE rose 1%. |
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