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European Shares Climb On China Stimulus

(RTTNews) - European stocks rebounded on Friday after China cut its key lending rates by a record quantum to spur growth.

The pan European Stoxx 600 climbed 1.6 percent to 434.83 after declining 1.4 percent in the previous session.

The German DAX jumped 1.9 percent, France's CAC 40 index added 1.2 percent and the U.K.'s FTSE 100 was up nearly 2 percent.

Mining and energy stocks surged, with Anglo American, Glencore, Royal Dutch Shell and BP Plc rising 2-3 percent.

British online retail group THG soared 22 percent after rejecting a A?2.07bn bid from two investment companies.
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