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BREAKING NEWS

European shares rebound

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European shares rebound

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Having spend most of the day in the red, European shares rebounding from a three-year low on Wednesday and only London finished the day in negative territory.

One reason was oil fell sharply for the second day running after the latest US government figures showed an unexpected rise in crude and fuel stocks for last week. That boosted the shares of airlines and carmakers, among them Daimler, Volkswagen and Ryanair.

Investors were also encouraged by better than expected quarterly results from French engineering firm Alstom and jewellery maker Richemont as well as bank Wells Fargo and microchip maker Intel in the US.