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European shares rise as trade relief rally shows it has legs

European shares rise as trade relief rally shows it has legs
FILE PHOTO: The curve of the German share price index DAX board is seen at Frankfurt's stock exchange in Frankfurt, Germany January 7, 2016. REUTERS/Kai Pfaffenbach   -   Copyright  Kai Pfaffenbach(Reuters)
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LONDON (Reuters) – European shares rose strongly at the open on Friday, extending their gains from the previous session as a relief rally due to easing fears of a trade war helped Wall Street hit record highs, while Asian shares also rose further overnight.

At 0730 GMT, euro zone blue chips <STOXX 50E> were up 0.7 percent and heading into a 10th straight session of gains, a performance not seen since 1997.

Germany’s DAX <.GDAXI> , home to some of the continent’s mightiest exporters, was up 0.7 percent while autos, miners and banks were the top gainers across European bourses.

Within the pan-European STOXX 600 <STOXX>, shares in British industrial technology firm Smiths <SMIN.L> posted the worst performance, dropping 9 percent after its full-year profit missed analysts’ estimates.

Just Eat <JE.L> lost 5.5 percent after a report said Uber was in early talks to buy Deliveroo, potentially giving it a major rival in the food delivery business.

(Reporting by Julien Ponthus; Editing by Hugh Lawson)

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