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European Shares Rebound As Trade Tensions Ease


European stocks rebounded from three-week lows hit on Tuesday as investors took trade tensions in their stride and looked ahead to Bank of England and OPEC meetings for direction.

While the Bank of England is unlikely to alter the status quo on rates on Thursday, the ministers of OPEC and non-OPEC countries may put forward proposals to increase production when they meet in Vienna on Friday.

The pan-European Stoxx Europe 600 Index was up 0.7 percent at 385.96 in late opening deals after falling 0.7 percent on Tuesday to mark its lowest close since May 31.

The German DAX was moving up 0.4 percent and France's CAC 40 index was rising 0.3 percent while the U.K.'s FTSE 100 was up more than 1 percent.

Colruyt shares soared almost 10 percent after the supermarket group reported annual profit that topped forecasts.

Denmark's Maersk rallied 2.3 percent after appointing a new CFO.

BT Group shares jumped over 2 percent in London after Jefferies upgraded the stock's rating to 'buy' from 'hold'.

Property group British Land Co jumped more than 1 percent after the company reported robust lettings growth.

Berkeley Group Holdings slumped 4.5 percent. The housebuilder raised its guidance but warned that profit growth would return to 'normal levels' next year.

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