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European shares rebound as banks rise, trade hopes ease growth worries

European shares rebound as banks rise, trade hopes ease growth worries
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 23, 2019. REUTERS/Staff -
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(Reuters) – European shares rebounded on Tuesday, getting a boost from the banking sector as optimism on U.S.-China trade soothed growth concerns triggered by disappointing PMI surveys across the bloc.

The pan-European STOXX 600 index <.STOXX> rose 0.3%, with the eurozone banking index <.SX7E> up 0.6% after a 2.8% tumble in the previous session.

U.S. Treasury Secretary Steven Mnuchin said in an interview with Fox Business Network that trade talks with Chinese Vice Premier Liu He and U.S. Trade Representative Robert Lighthizer were set to resume in two weeks.

Trade-sensitive Frankfurt shares <.GDAXI> rose 0.3%, bouncing back from a 1% drop after surveys showed growth in services and manufacturing across the euro zone stalled in September.

London’s FTSE index <.FTSE> moved 0.1% higher, ahead of the Supreme Court’s decision on U.K. Prime Minister Boris Johnson’s suspension of parliament, which could see the sterling rising if there is a verdict against him.

(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Bernard Orr)

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