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Europe Markets: European stocks snap 7-day selling spree after Wall Street rebound

European stocks posted firm gains on Wednesday, breaking a seven-session losing run. The move tracked gains on Wall Street Tuesday, as U.S. equity markets managed to bounce higher in a volatile session, following the biggest global selloff in years.

Meanwhile, in Germany, media reports said German Chancellor Angela Merkel’s party and its former center-left partner have agreed on a formal deal to set up a governing coalition.

What are markets doing?

The Stoxx Europe 600 index SXXP, +0.78% rose 0.5% to 374.65, rebounding from its lowest close since late August last year, hit on Tuesday. It also posted its biggest one-day percentage loss since June 2016 on Tuesday, as part of a global market rout that started in the U.S.

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