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Europe Closes Higher |
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1:04 PM EDT July 26 2006 |
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European markets finished in the positive as gains for companies like Reuters and Syngenta offset losses in the automotive sector. London business news and information group Reuters Group advanced 5% on lifted revenue outlook for the year and increased dividend for the first time in five years. Agrochemicals company Syngenta gained 4.8% on first-half income above estimates. Mining stocks also contributed to the positive sentiment, with Arcelor climbing 9%, and Xstrata rising 0.5%. Among decliners, Peugeot led the auto sector down with a decline of 10% on 60% profit drop in the first half due to higher raw material costs. Volkswagen and BMW also moved lower, 0.7% and 0.5% respectively. The German DAX 30 rose 0.4%, the French CAC 40 gained 0.2%, and London FTSE 100 climbed 0.4%.
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