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Europe: Shares inch up on strong German data, stimulus hopes

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European stock markets opened slightly higher after data showed a surprise rise in German exports and on firmer expectations of a stimulus by the European Central Bank later this week.

[FRANKFURT] European stock markets opened slightly higher after data showed a surprise rise in German exports and on firmer expectations of a stimulus by the European Central Bank later this week.

Germany's trade-sensitive DAX index rose 0.2 per cent after data showed that seasonally adjusted exports rose 0.7 per cent in July. A Reuters poll of economists had pointed to a drop of 0.5 per cent.

The pan-European STOXX 600 index was up 0.1 per cent at 0715 GMT. Oil stocks were the biggest boost to the index, tracking crude prices higher.

With euro zone inflation well below target, market participants are betting that the ECB will cut its interest rate on bank overnight deposits for the first time since 2016 when it meets on Thursday.

REUTERS

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