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European Shares Boosted By Dealmaking

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European stocks were trading sharply higher on Tuesday as worries about an imminent trade war eased and British Prime Minister Theresa May said she was confident of reaching a good Brexit deal.

Dealmaking activity also helped boost investor sentiment on a day of little economic news.

The pan-European Stoxx Europe 600 index was up 0.8 percent at 373.88 in late opening deals after rising 1 percent the previous day.

The German DAX was rallying 1.2 percent, France's CAC 40 index was up 0.7 percent and the U.K.'s FTSE 100 was gaining 1 percent.

Telecom Italia jumped 4.5 percent on a Bloomberg report that activist investor Elliott Management is considering nominating directors to its board and pushing for other changes at the company.

Smurfit Kappa shares jumped over 18 percent after the packaging company rejected an "unsolicited and highly opportunistic" takeover offer from International Paper Co.

Tullow Oil and Total SA gained about 1 percent each after crude oil prices rose more than 2 percent overnight amid reports that Libya is suffering supply interruptions.

Automakers BMW, Daimler, Volkswagen, Renault and Peugeot climbed 1-3 percent after U.S. House of Representatives Speaker Paul Ryan urged President Donald Trump to rethink the planned tariffs on steel and aluminum.

French technology firm Thales soared 5.4 percent after saying it expects to exceed medium-term targets.

by RTTNews Staff Writer

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