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Europe: Stocks jump at open

Wednesday, December 7, 2016 - 16:40

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[LONDON] Europe's main stock markets rose solidly at the start of trading on Wednesday, with London's benchmark FTSE 100 index up 0.7 per cent to 6,829.06 points.

In the eurozone, Frankfurt's DAX 30 gained 1.0 per cent to 10,885.05 and the CAC 40 in Paris climbed 1.0 per cent to 4,676.61 compared with Tuesday's close.

The CAC on Tuesday hit a high for 2016 on easing eurozone concern over Italy's political future, according to traders.

Italian Prime Minister Matteo Renzi formally resigned Monday after the country resoundingly rejected his constitutional reform proposals.

The departure of the centre-left premier - who had staked his future on the outcome of the vote - plunges Italy into political uncertainty and casts a shadow over the future of the eurozone's third-largest economy.

But markets appear less worried, with share prices of Italy's troubled banks surging on Tuesday.


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