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UK Stocks Rise as French Shares Drop

By Investors Hub

The major European markets are turning in a mixed performance on the day as investors have kept an eye on currency movements.

While the UK’s FTSE 100 Index has advanced by 0.4 percent, the German DAX Index is just below the unchanged line and the French CAC 40 Index is down by 0.2 percent.

Lufthansa has moved to the upside the German airline said it would sign an agreement to buy large parts of bankrupt carrier Air Berlin.

Sky Plc shares have rallied after the company reported better-than-expected first quarter results and said it is on track to meet its full-year targets.

Just Eat shares have also soared after the Competition and Markets Authority approved its planned 200 million pound purchase of rival Hungryhouse.

Meanwhile, banks Deutsche Bank, BNP Paribas and Societe Generale have moved to the downside after the European Commission proposed new measures to strengthen the EU banking sector against future crises.

On a light day on the economic front, final data from statistical office Insee showed that French consumer inflation rose to a five-month high of 1 percent in September, as estimated earlier. This was the fastest rate since April, when inflation was 1.2 percent.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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