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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Europe open: Shares up as rate cut hopes persist

(Sharecast News) - European shares opened higher on Thursday as investors continued to bet on cuts in interest rates next year. The pan-regional Stoxx 600 index was up 0.27% to 479.93 with all major bourses higher. In the year to date the Stoxx has gained 12.95%.

Wall Street stocks closed higher on Wednesday as the S&P 500 fell just short of registering a fresh all-time high.

"The US bond and stocks extended their rally on the back of soft US economic data and another strong US bond auction. The US dollar fell sharply against most majors, allowing the euro, sterling, and the yen to extend gains into the year end," said Swissquote Bank analyst Ipek Ozkardeskaya.

"The rally in the sovereign space looks overdone, hence the rally in stocks and the selloff in US dollar looks overstretched; there is a rising risk of a wild correction when the euphoria comes to an end."

In equity news Vestas Wind Systems gained again as the Danish wind turbine-maker won received a 1,089 MW order in the US.

Reporting by Frank Prenesti for

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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