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Positive German data, Airbus shares drive tentative gains in European stocks

Published 08/10/2019, 08:32
Updated 08/10/2019, 08:40
© Reuters.  Positive German data, Airbus shares drive tentative gains in European stocks

(For a live blog on European stocks, type LIVE/ in an Eikon

news window)

Oct 8 (Reuters) - European shares ticked higher in early

trading on Tuesday, helped by gains in Airbus shares and data

showing an unexpected rise in industrial output in Germany,

while caution prevailed ahead of U.S.-China trade talks.

The pan-European STOXX 600 index .STOXX was up 0.1% by

0715 GMT, with most regional bourses trading higher.

The August data for Germany provided a shimmer of hope that

an expected contraction in Europe's biggest economy in the third

quarter would not be steep. Airbus AIR.PA rose 2.2%, after the planemaker reported

higher orders for the first nine months of the year, putting it

well ahead of U.S. rival Boeing Co BA.N . Also helping sentiment were shares of Nordic telecom

companies Nokia Oyj NOKIA.HE and Ericsson ERICb.ST , which

rose about 1%, after a report that the U.S. government has

suggested issuing credit to help the two companies compete with

China's Huawei.

In a weak spot, shares of London Stock Exchange Group

LSE.L dropped 6.4% after Hong Kong's bourse 0388.HK dropped

its unsolicited $39 billion bid for the company. News overnight that the United States had expanded its trade

blacklist to include some of China's top artificial intelligence

startups kept investors on edge ahead of high-level trade talks

this week.

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