European Economic News
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European stocks rose for a fourth week as earnings from Cie. Financiere Richemont SA to ICAP Plc beat analyst estimates and the Bank of England lifted its growth forecast for Europe’s third-biggest economy.
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The French economy fell back into recession, increasing pressure on President Francois Hollande to adopt policies to revive growth.
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Three of Europe’s biggest oil explorers are among companies being questioned by European antitrust regulators about potential manipulation of prices in the $3.4 trillion-a-year global crude market.
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Swiss investor confidence fell in May, signaling the economy may struggle to gain momentum as the neighboring euro area stays weak.
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The German economy expanded less than forecast in the first quarter and France slipped into recession, increasing pressure on the European Central Bank to do more to stimulate growth.
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European stocks advanced as companies from ICAP Plc to European Aeronautic Defence & Space Co. rallied after reporting earnings, offsetting German investor sentiment that gained less than forecast in May.
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Spain’s government bonds fell, with two-year note prices slipping for a fifth day, as the nation hired banks to sell 10-year securities and auctioned six- and 12-month bills.
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German investor confidence rose less than economists forecast in May, highlighting the risks to the economic outlook as the euro region remains mired in recession.
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German stocks declined from a record, snapping five days of gains, as investor confidence in the country rose less than projected and concern grew that China’s economy is slowing.
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Swiss stocks were little changed before reports on German investor confidence and euro-area industrial production.
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