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European shares gain on optimism over U.S.-China trade row

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By Reuters
European shares gain on optimism over U.S.-China trade row
FILE PHOTO: The German share price index, DAX board, is seen at the stock exchange in Frankfurt, Germany, March 21, 2018. REUTERS/Tilman Blasshofer   -   Copyright  STAFF(Reuters)

LONDON (Reuters) – Hopes that the United States and China might find a compromise to resolve their trade dispute lifted European shares on Monday, while Turkey’s currency crisis showed no immediate sign of worsening.

At 0712 GMT, the pan-European STOXX 600 <.STOXX> was up 0.25 percent at 382.01 points, with most markets across the continent gaining.

British software group Sage <SGE.L> posted the worst performance, down 6.6 percent after a rating downgrade of its stock by Deutsche Bank, two traders said.

Shares in British contractor G4S <GFS.L> fell close to 2 percent after the British government took over running a prison after an inspection found it had fallen into a “state of crisis”.

While the second-quarter earnings season nears its end, NMC Health <NMC.L> rose 3.2 percent, at the top of the STOXX index, after publishing a trading update.

(Julien Ponthus and Helen Reid, editing by Larry King)