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European Stocks Turn in Mixed Performance

By Investors Hub

European stocks are turning in a mixed performance on Thursday as investors digest merger and acquisition news and awaited further details on progress towards US tax reform.

While the German DAX Index is just above the unchanged line, the French CAC 40 Index and the UK?s FTSE 100 Index are both down by 0.1 percent.

French telecommunications firm Orange has rallied on news the company targets adjusted EBITDA growth of around 2 percent in 2017, followed by an acceleration of the growth rate in 2018 and continued growth in 2019 and 2020.

Shares of RM Plc have also jumped in London after the educational ICT and resources group said it expects results for the financial year ended November 30, 2017 to be ahead of expectations.

Ladbrokes Coral shares have surged higher after bookmaker GVC Holdings offered to buy the gambling giant for £3.9 billion or $5.2 billion.

Meanwhile, German energy firm Uniper has moved to the downside despite confirming its earnings outlook for the current year and promising higher dividend next year.

Furniture retailer Steinhoff has also slumped to extend Wednesday’s decline, hit by news of the launch of an investigation into accounting irregularities.

In economic news, the French trade deficit widened to 5.0 billion euros in October from 4.6 billion euros in September, the customs office reported. The French current account deficit narrowed to 2.2 billion euros in October from 3.3 billion euros in September.

German industrial production fell 1.4 percent month-on-month in October following a revised 0.9 percent drop in September, data from Destatis showed. Production was forecast to rebound 0.9 percent.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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