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Europe: Stocks rebound at open

Wednesday, August 17, 2016 - 15:28
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[LONDON] European stock markets rebounded at the start of trading on Wednesday, mirroring a recovery in Tokyo.

London's benchmark FTSE 100 index rose 0.4 per cent to 6,918.31 points, compared with the close on Tuesday.

In the eurozone, Frankfurt's DAX 30 climbed 0.2 per cent to 10,694.55 points and the CAC 40 in Paris won 0.3 per cent to open at 4,475.13.

Tokyo stocks snapped a two-day losing streak Wednesday as a drop in the yen lifted exporters while energy and bank shares also rose.

The Japanese market had been under pressure since weak GDP figures Monday resurrected fears about growth in the world's number three economy, just as the strong yen is taking a bite out of company profits.

But the dollar picked up against the yen Wednesday after comments from a senior US central banker suggested an interest rate hike could possibly come as early as next month.

AFP