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Europe Markets: Europe picks up on global gains, with Italian stocks in the lead

European stocks saw modest gains on Monday, led by Italian stocks after a downgrade from Moody’s Investors Service spared that country from a junk rating on its debt. Helping out was a second strong day of gains for Chinese stocks, as officials there continued to provide positive comments to support the market.

What are markets doing?

The Stoxx Europe 600 SXXP, +0.39% rose 0.1%, after a modest gain on Friday, but a 0.6% rise for the week.

Italy’s FTSE MIB Italy index I945, +0.78% rose 0.6% to 19,197.74, paring back a stronger earlier start, while the German DAX 30 DAX, +0.57% gained 0.4% to 11,610, and France’s CAC 40 PX1, +0.36% added 0.2% to 5,095.88.

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