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European Averages Lose Ground At Mid-Day |
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9:29 AM EST March 31 2006 |
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European markets rebounded from yesterday’s solid gains and traded lower at mid-day, taking their cue from weak close of U.S markets Thursday when most blue-chip stocks lost ground as higher interest rates concerns weighed. Technology stocks like Nokia and Ericsson failed to sustain recent gains. However, British hedge-fund manager Man Group bucked the downward trend, rising 3.1%. The German DAX 30 rose 0.4%, the French CAC 40 was up 0.4%, and London FTSE 100 also gained 0.4%. In the first quarter European markets advanced 8% on surging materials and utilities sectors.
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