European Stocks Rebound
European stock markets closed in the green on Wednesday, recovering from yesterday’s losses, on hopes that Italy will postpone early elections and boosted by company merger news. On Wednesday, the Italian center-left Democratic Party said it was ready to hold talks with the anti-establishment 5-Star Movement, rising expectations of a new coalition. Autos shares were among the best performers, after Il Sole 24 Ore newspaper reported that merger talks between Fiat Chrysler and Renault are back on the table. The DAX 30 gained 152 points, or 1.3% to 11,803; the FTSE 100 surged 79 points, or 1.1% to 7,204, boosted by a weaker pound on little hopes of a Brexit deal agreement with the EU, ahead of the meetings between the UK PM Johnson with German Chancellor Angela Merkel on Wednesday and with French President Emmanuel Macron on Thursday; the FTSE MIB added 362 points, or 1.8% to 20,847; the CAC 40 rose 91 points, or 1.7% to 5,436; and the IBEX 35 went up 83 points, or 1% to 8,702.
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