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Markets rise on data, reassurance from Dubai


Markets rise on data, reassurance from Dubai


Frankfurt, Milan and Brussels were Europe’s three star markets today, putting on over 2.5 percent, and all the others did well, too, recording healthy gains, with only Moscow, which started the day ahead of the pack, falling back on profit-taking, although it still ended in the black.

New buying at the start of a new month helped fuel the upward trend, as did a perception that the Dubai affair was over, and there was also positive macroeconomic data to digest. The Eurozone Purchasing Manager’s Index was revised upwards to a 20-month high, and the Swiss economy moved out of recession in the third quarter. Oil, gold and copper rose as did other commodities, and miners and banking shares also did well.

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