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European Shares Rebound In Cautious Trade


European stocks snapped a seven-day losing streak on Wednesday after the U.S. markets recovered from an early plunge to finish sharply higher overnight.

Asian stock markets turned in a mixed performance and U.S. stock futures traded lower, keeping underlying sentiment somewhat cautious.

The pan-European Stoxx 600 was up 0.8 percent at 375.89 in late opening deals after closing 2.4 percent lower the previous day.

The German DAX was moving up 0.7 percent, France's CAC 40 index was rising 0.6 percent and the U.K.'s FTSE 100 was up about half a percent.

Norway's Statoil climbed 3 percent after its fourth-quarter earnings topped forecasts.

Fnac Darty shares jumped 4.5 percent in Paris as insurance broker SFAM bought a minority stake in the consumer electronics chain.

German reinsurer Hannover Re rallied 2.5 percent on saying it was optimistic for 2018.

Sweden's Hexagon soared more than 9 percent after its Q4 earnings topped forecasts.

British oil & gas exploration firm Tullow Oil climbed 2.8 percent after posting its first annual profit in three years.

Vestas jumped 3 percent after the Danish wind turbine maker said it would initiate a new share buy-back program of DKK 1.5 billion shortly.

Brewer Carlsberg tumbled 4 percent after its 2017 sales came in below analysts' expectations.

ABN Amro dropped nearly 2 percent. After posting better-than-expected quarterly earnings, the Dutch bank said that new banking regulations will have a significant impact on its risk profile.

On the data front, German industrial output slid 0.6 percent month-on-month in December, in contrast to a revised 3.1 percent rise in November, official data showed. Output was forecast to drop 0.5 percent.

French foreign trade gap narrowed notably in December, as exports grew much faster than imports, data from the customs office showed.

Elsewhere, U.K. house prices decreased for the second straight month in January, data from the Lloyds bank subsidiary Halifax and IHS Markit showed.

House prices fell unexpectedly by 0.6 percent from December, when they were down 0.8 percent.

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