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European Shares Recover Some Lost Ground Friday

By Investors Hub

European stocks have recovered some lost ground on Friday as trade tensions ease and strong Chinese trade data has helped eased concerns over slowing global growth.

Media reports suggested that the U.S. Treasury Department has not labeled China as a currency manipulator in an internal report.

A meeting between U.S. President Donald Trump and Chinese President Xi Jinping at a multilateral summit in November is “under discussion,” top economic adviser Larry Kudlow told reporters at the White House.

Closer to home, Eurostat data revealed that Eurozone industrial production grew more than expected in August. Industrial production climbed 1 percent on a monthly basis, reversing the 0.7 percent drops in both June and July.

German consumer price inflation advanced 2.3 percent year-on-year year, the fastest since November 2011, when inflation was 2.4 percent, final data from Destatis revealed.

While the U.K.?s FTSE 100 Index has climbed by 0.7 percent, the German DAX Index and the French CAC 40 Index are both up by 0.8 percent.

Rio Tinto has rallied after the mining giant said it expects aluminum demand growth to be about 3.2 percent per annum over the next 5 years. Anglo American, Antofagasta and Glencore also jumped after the release of Chinese trade data.

Online retailer Zalando has also moved sharply higher after Credit Suisse Group set a ?40.00 ($46.51) per share price target on the stock.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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