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European Markets Bounce Back From Early Weakness

After a positive start to the day, the European markets quickly slipped into negative territory. The weak performance of the Asian markets, coupled with concerns over Italy, Brexit and rising bond yields weighed on investor sentiment.

However, the markets staged a recovery in the afternoon. Markets on Wall Street struggled at the outset, before climbing into the green. The reversal helped to turn the tide in Europe.

The pan-European Stoxx Europe 600 index advanced 0.20 percent. The Euro Stoxx 50 index of eurozone blue chip stocks increased 0.37 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, added 0.28 percent.

The DAX of Germany climbed 0.25 percent and the CAC of France rose 0.35 percent. The FTSE 100 of the U.K. gained 0.06 percent and the SMI of Switzerland finished higher by 0.00 percent.

In Frankfurt, Wirecard jumped 9.78 percent. The internet technology and financial services provider has confirmed its previously announced vision 2020 targets and the fiscal 2018 EBITDA guidance.

In London, advertising group WPP dropped 1.31 percent on news that Ford Motor Company has appointed another agency as its lead creative agency.

Enterprise software firm Sage Group fell 1.48 percent after Barclays downgraded its rating on the stock.

Plastic packaging maker RPC Group rallied 2.62 percent after it gave two suitors more time to make bids.

Insurer Aviva lost 0.45 percent as Mark Wilson quit as chief executive of the company.

John Wood Group jumped 2.51 percent after securing a string of new midstream sector contracts across the U.S.

Greggs soared 3.68 percent. The bakery chain said that its total sales grew by 7.3 percent in the 13 weeks to 29 September 2018.

Givaudan fell 1.38 percent. After reporting a rise in Q3 group sales, the Swiss manufacturer of fragrance and flavor products said it aims to outpace market with 4-5 percent sales growth.

German exports declined for a second straight month in August, defying expectations for an increase, preliminary data from the statistical office Destatis showed on Tuesday.

Merchandise exports fell a calendar and seasonally-adjusted 0.1 percent from July, when they decreased 0.8 percent. Economists had expected a 0.4 percent increase.

Imports dropped 2.7 percent after a 2.8 percent rise in July. Economists were looking for a 0.1 percent gain.

The trade surplus rose to EUR 17.2 billion in August from EUR 16.5 billion in the previous month. Economists had predicted a surplus of EUR 16.2 billion.

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