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Markets muted as UK begins Brexit proceedings

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THE DEBATE

'Thank you and goodbye': Clock starts on Brexit negotiations (part 1)

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THE DEBATE

'Thank you and goodbye': Clock starts on Brexit negotiations (part 2)

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ENCORE!

Film show: 'Ghost in the Shell', 'The Confession' and Jean Rouch centenary

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FOCUS

Italy: Anti-establishment mayor of Rome faces grim reality of power

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MIDDLE EAST MATTERS

Refugees of rap: Using music to speak out about the Syrian war

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THE POLITICAL BRIEF

Rise of populism: Could far-right leader Le Pen be France's next president?

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IN THE PAPERS

Countdown to Brexit: 'The eyes of history are watching'

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IN THE PAPERS

'Brexit: Day One'

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European stocks rise, following Asian and US rebounds

Text by REUTERS

Latest update : 2008-10-29

European stock markets opened sharply up after Japan's Nikkei index closed 7.74% up at the end of trading, following a strong rally at Wall Street overnight, fuelled by hopes for an interest rate cut at the end of the week.

European stock index futures rose sharply on Wednesday, after U.S. and Asian stocks soared and investors bet on a U.S. rate cut later in the day.

At 0707 GMT, futures for the DJ Euro Stoxx 50 and for France's CAC added about 5 percent, and for Germany's DAX gained 3.4 percent.

Wall Street marked its second best day ever on Tuesday, with major U.S. stock indexes surging about 10 percent.

The U.S. Federal Reserve is set to announce its rate verdict at 1815 GMT. In a Reuters survey, primary dealers expect the Fed funds rate will be cut to 1 percent from 1.5 percent.

Japan also signalled on Wednesday it could follow the U.S. in cutting interest rates this week. Tokyo's Nikkei average soared 7.7 percent.

Date created : 2008-10-29

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