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Carmakers boost European markets

Carmakers boost European markets
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European shares finished up over one percent on Tuesday, rising for a second session running.

Hopes about the prospects for a bailout package from the US government for carmakers there boosted their European counterparts, including Daimler, BMW, VW, Renault and Fiat.

In addition there was an unexpected improvement in German investor confidence according to the latest survey by the ZEW Center for European Economic Research.

London was the region’s best performer, the FTSE gained almost two percent, despite the fact that British industrial output fell at its sharpest pace in nearly six years in October and revised figures show the UK economy is shrinking even faster than initially thought.