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Banks And Miners Push Europe Up |
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3:25 PM EST December 14 2006 |
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European stocks closed in the positive territory Thursday, lifted by strength in the mining sector and gains in the financial sector. HBOS shares rose 1.6% in London after the group said it expects underlying 2006 profit to beat market expectations. It also said the growth in lending is at the upper end of its anticipated range, while cost growth is expected to meet estimates. Again in the banking sector, shares of BNP Paribas rose 1.3% after the French bank said it's in exclusive discussions to buy Dexia's private-banking operations in France. Miners such as Xstrata, Rio Tinto, BHP Billiton sharply rose on higher metals prices. Online-gambling operator PartyGaming rose 2.7% after it said gross daily poker sales improved from declines reached after the firm barred U.S. players. In deal news, shares in Nestle rose 2.1% after the Swiss food group agreed to acquire the medical-nutrition business of Novartis. Novartis shares rose 1.5% in Switzerland. The U.K. FTSE 100 index closed up 0.6%. The Germany's DAX 30 rose 0.5%. The French CAC-40 also climbed 0.6%.
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