European Shares Up for 4th Day Led by Banks
European stock markets closed in the green for the fourth straight session on Thursday, with banks among the best performers amid strong earnings results. Nordea Bank and UniCredit posted better-than-expected Q4 profits; and Capital Group announced a 3.1% stake in Deutsche Bank while Societe Generale said its profitability will increase in 2020 and that it would introduce a new shareholder remuneration policy. Basic resources and automobile shares were also higher on China’s move to lower tariffs on $75 billion of US goods starting February 14th. The DAX 30 added 96 points, or 0.7% to 13,575; the FTSE 100 gained 22 points, or 0.3% to 7,505; the CAC 40 rose 53 points, or 0.9% to 6,038; the FTSE MIB climbed 254 points, or 1.1% to 24,490, its highest close since May 2018; and the IBEX 35 advanced 94 points, or 1% to 9,811, the highest since July 2018.
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