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European shares inch up on strong German data, stimulus hopes

European shares inch up on strong German data, stimulus hopes
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 6, 2019. REUTERS/Staff -
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(Reuters) – European stock markets opened slightly higher after data showed a surprise rise in German exports and on firmer expectations of a stimulus by the European Central Bank later this week.

Germany’s trade-sensitive DAX index <.GDAXI> rose 0.2% after data showed that seasonally adjusted exports rose 0.7% in July. A Reuters poll of economists had pointed to a drop of 0.5%.

The pan-European STOXX 600 index <.STOXX> was up 0.1% at 0715 GMT. Oil stocks <.SXEP> were the biggest boost to the index, tracking crude prices higher. [O/R]

With euro zone inflation well below target, market participants are betting that the ECB will cut its interest rate on bank overnight deposits for the first time since 2016 when it meets on Thursday.

(Reporting by Sagarika Jaisinghani and Susan Mathew in Bengaluru; Editing by Arun Koyyur)

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