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Fiat-Renault deal hopes lift European shares

Published 21/08/2019, 08:28
© Reuters.  Fiat-Renault deal hopes lift European shares
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(For a live blog on European stocks, type LIVE/ in an Eikon

news window)

Aug 21 (Reuters) - European shares rebounded from the

previous session's sharp falls on Wednesday, with brokers

pointing to an Italian report on continuing merger talks between

Fiat Chrysler Automobiles FCHA.MI and Renault SA RENA.PA as

pushing car industry shares higher.

The pan-European STOXX 600 index .STOXX rose 0.5% at 0716

GMT, with Italy's FTSE MIB .FTMIB rebounding from a drop in

the previous session amid a deepening Italian political crisis.

Milan shares rose 0.89% and its banking index .FTIT8300

gained 0.96%. Shares in Renault and Fiat both rose around 1.7%.

Italian prime minister Giuseppe Conte resigned on Tuesday,

potentially paving the way for a new coalition government.

Capita Plc CPI.L rose 4.3% to the top of the STOXX 600

index, after brokerage Goldman Sachs (NYSE:GS) upgraded its shares to

"buy".

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