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European stocks track Asian equities higher

Amnon Free Press/Central Press Syndicate, USA. Read, Enjoy and Share the Latest US News Updates.

September 10, 2021

(Reuters) – European stocks inched higher on Friday, tracking a positive trading session in Asia, even as investors weighed risks from tighter monetary policies after the European Central Bank signalled a slowdown of its pandemic-era bond purchases.

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The pan-European STOXX 600 index was up 0.2%, as of 0710 GMT, but was still on course to end the week lower amid worries over global economic slowdown.

News of a call between Chinese leader Xi Jinping and U.S. President Joe Biden offered some relief to battered Asian stocks, particularly tech companies that have come under heightened regulatory scrutiny in Beijing.

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Miners and technology stocks were the top sectoral gainers in Europe, while telecoms fell the most.

French luxury goods maker LVMH gained 1.8% after HSBC recommended buying the stock, while Fresenius Medical Care dropped 4% after J.P.Morgan cut rating on the stock to “underweight”.

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(Reporting by Sruthi Shankar in Bengaluru; Editing by Sherry Jacob-Phillips)

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