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European stocks extend rally as real estate firms surge

European stocks extend rally as real estate firms surge
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 28, 2019. REUTERS/Staff   -   Copyright  STAFF(Reuters)
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(Reuters) – European stocks on Friday extended gains from the previous session, helped by a surge in German real estate companies and on relief that trade tensions between the United States and China were easing.

The pan-European STOXX 600 index <.STOXX> rose 0.31% by 0715 GMT, after hitting near one-month highs on Thursday.

The real estate sector <.SX86P> sector jumped 1.71%, led by gains in shares of German real estate companies after a report that the rent freeze in Berlin could be less strict than previously planned.

Shares of Deutsche Wohnen <DWNG.DE>, Vonovia SE <VNAn.DE> and LEG Immobilien AG <LEGn.DE> rose between 3.6% and 10%.

Meanwhile, Italy’s FTSEMIB <.FTMIB> was set to post its third straight session of gains, up 0.24%, as the country appears to be moving closer to ending a three-week political crisis with the collapse of one government and the arrival of another.

(Reporting by Amy Caren Daniel in Bengaluru; Editing by Arun Koyyur)

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