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European Markets: Global Clearance, ECB, Profit



The pan-European Stoxx 600 was slightly above the lowlands, although it crashed heavily in open terrain. Tech stocks climbed more than 1 percent to positive territory. There were concerns about overvaluation in the sector, which led to significant overnight losses on Wall Street.

Nevertheless, media figures were still at 2.6 percent. The sector was pulled down by WPP. The company has lowered its outlook for the year and reported a sharp decline in trading. Shares rose 16 percent.

With regard to the European benchmark, the German manufacturer Kion Group even rose by 13 percent after announcing the results for the third quarter. Also Puma noted after raising its annual forecast by almost 8 percent higher.

UBS reported unexpectedly strong Thursday morning results due to higher lending volumes and strong equity and currency trading growth. The shares rose by 1

.1 percent.

The SEB Bank gained 3.5 percent after the third quarter exceeded expectations of strong lending to corporates. Lloyds Bank surprised investors with their recent results. Equities were slightly higher

The ECB will also meet later Thursday and announce that there have been changes in monetary policy at 12:45. London time

Meanwhile, the dispute between Rome and Brussels over the next year's budget continues. Italian Finance Minister Giovanni Tria said Wednesday that he saw no reason to come forward with a new budget after the European Commission said the plan was not good enough and wanted a new version within three weeks.


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