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The euro weakens but European stocks strengthen


The euro weakens but European stocks strengthen


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.

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