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The euro weakens but European stocks strengthen

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The euro weakens but European stocks strengthen

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The euro has lost steam and is on track for its worst week versus the dollar in three years. The European currency slumped along with expectations of a euro zone interest rate hike. But European stocks rose for the first time in seven days after Belgium’s InBev offered a record 30 billion euros in cash for Anheuser-Busch. InBev said it has strong support from lenders to finance its bid.

Germany’s Premiere AG, the country’s biggest pay-television company and Banco Popular Espanol climbed on speculation they are takeover targets. National indexes increased in 14 of the 18 western European markets.