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Europe close: Stocks jump on dovish Fed talk, China stimulus report
(Sharecast News) - European stocks rose strongly, helped by dovish remarks out of two Federal Reserve policymakers overnight and another during Tuesday's session. Investor sentiment was also aided by a Bloomberg report that authorities in Beijing were considering further fiscal stimulus to help meet growth targets with a decision possibly set to arrive before November.
The Stoxx Europe 600 Index was up 1.96% at 452.48, with markets across Frankfurt, Paris, Milan and Madrid all rising by around the same amount, London's FTSE 100 included.
German 10-year Bund yields ended the session little changed, alongside a dip in crude oil futures, but the euro was again trading on the front foot around the 1.06 mark versus the U.S. dollar.
Israel meanwhile was continuing with airstrikes targeting Hamas in the Gaza Strip and building up forces as the war stretched into its fourth day.
Iranian Supreme leader Ali Khamenei reportedly denied that his country had been involved in Hamas's assault, but did not denounce it, instead blaming Tel Aviv, even as he warned of "greater calamity" if people in Gaza were "massacred".
Things were a little light in terms of economic data.
Italian industrial production however was reported at up by 0.2% month-on-month in August (consensus: 0.0%).
In stock movements, oil and gas groups shares were mostly higher on the Stoxx 600, although Basic Resources fared much better.
Food delivery stocks were performing especially well, with ams-Osram, Just Eat, Ocado and Delivery Hero rising strongly.
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