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Europe Markets: Luxury-goods shares lead Europe higher as traders shake off rising euro

European stocks rebounded from a one-week low on Friday, almost erasing their weekly loss as traders ignored the continued rally in the euro and instead focused on upbeat updates from heavyweights AstraZeneca and LVMH.

What are markets doing?

The Stoxx Europe 600 index SXXP, +0.44% gained 0.5% to 400.43, trimming its weekly loss to 0.1%.

Germany’s DAX 30 index DAX, +0.00% rose 0.2% to 13,321.01, while France’s CAC 40 PX1, +0.86% gained 0.9% to 5,530.90.

The U.K.’s FTSE 100 index UKX, +0.56% put on 0.3% to 7,642.13.

The euro EURUSD, +0.5405% rose to $1.2457 from $1.2397 late Thursday in New York, while the pound GBPUSD, +0.7709% climbed to $1.4255 from $1.4139 on Thursday.

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