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Fed balm lifts European shares to record high amid tussle over yuan

Sentiment in Europe was also underpinned by the latest IFO indicator which showed that the upswing for the German economy

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Global Markets | US Federal Reserve | Yuan

Reuters  |  London 

European shares rose to record highs on Tuesday, soothed by reassurance from Federal Reserve officials that monetary stimulus won't be clawed back anytime soon. Sentiment in Europe was also underpinned by the latest IFO indicator which showed that the upswing for the German economy, Europe's largest, is picking up pace after the knock from COVID-19. A multi billion-euro takeover deal combining two of Germany's biggest property developers was a focus. Vonovia slipped 4% on news it was taking over rival developer Deutsche Wohnen, whose shares surged over 15%, for about 18 ...

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First Published: Tue, May 25 2021. 14:40 IST
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