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European Stocks Surge on Commodities |
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2:28 PM EDT May 23 2006 |
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European markets recuperated from steep losses yesterday to close sharply higher Tuesday, lifted by mining and energy companies, as well as technology stocks. A rebound in commodities prices provided a boost to miners like BHP Billiton, Rio Tinto and oil giants like BP and Royal Dutch Shell. The leading advancer among tech stocks was Dutch chip-equipment maker ASML Holding, which rose 7% on expectations that Q2 orders will be at least 40% higher than the first quarter. The German DAX 30 surged 2.4%, the French CAC 40 rallied 2.5%, and London FTSE 100 climbed 2.6%.
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