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LONDON, Feb 16 (Reuters) – European stocks were seen opening higher on Tuesday, tracking gains in Asian and U.S. equities while a rebound in oil prices also supported markets.
Financial spreadbetters expected Britain’s FTSE 100 to open up by 24-26 points, or 0.4-0.5 percent higher. Germany’s DAX was seen opening up by 62-65 points, or 0.7 percent higher, while France’s CAC was seen up by 23-27 points, or 0.6-0.7 percent higher.
The pan-European FTSEurofirst 300 index rose sharply for the second consecutive session on Monday, closing up 2.9 percent as banking and telecoms stocks rose.
Telecoms stocks could again come into focus after British phone network operator Vodafone Plc and John Malone’s cable company Liberty Global Plc agreed late on Monday to combine their operations in the Netherlands for a better footing in the local market.
Traders said European equities had been further supported by European Central Bank (ECB) president Mario Draghi reiterating on Monday that the ECB was ready to act in March if inflation expectations remain weak.
Deutsche Bank employees alleged to have evaded tax when buying and selling carbon emission certificates had concerns over whether their trading activity was legal but carried on anyway to maximize profits, a Frankfurt court heard on Monday.
The founding family of Gameloft has raised its stake in the company as it seeks to fend off a “creeping takeover” of the video games maker, according to a statement from France’s AMF financial regulator on Monday.
French tyre maker Michelin said on Tuesday its profit rose 13 percent last year as sales increased in most regions and a weaker euro boosted revenue, offsetting competitive pressure on prices.
Royal Dutch Shell, Europe’s largest oil company, expects to make robust investments in Brazil’s offshore resources, hoping to quadruple oil and gas output there by the end of the decade, its chief executive officer said on Monday.
Telecom Italia on Tuesday reported a 20 percent drop in its 2015 core earnings, hit by 1.08 billion euros ($1.2 billion) of one-off charges and further deterioration in its key Brazilian market.
UK phone network operator Vodafone Plc and John Malone’s cable company Liberty Global Plc agreed on Monday to combine their operations in the Netherlands for a better footing in the local market. Vodafone will pay 1 billion euros ($1.12 billion) in cash to Liberty as part of the agreement to combine its mobile operations with Liberty’s fiber broadband network Ziggo in a 50-50 joint venture, the companies said in a statement.
—————————————————————————— > GLOBAL MARKETS-Asian shares extend gains as investor fears ease > US STOCKS-Wall St rallies; S&P 500 snaps 5-day losing streak > Nikkei rises in choppy trade; SoftBank soars on share buyback plan > TREASURIES-Bond yields rise on upbeat U.S. retail sales data > FOREX-Dollar stands tall vs yen, euro as risk aversion ebbs for now > PRECIOUS-Gold slumps below $1,200, risk appetite dents safe-haven demand > METALS-London copper rallies on hopes of new measures from China > Oil rises on chance of output cuts as producers to meet (Reporting by Sudip Kar-Gupta)
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