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European shares rise at open, shrug off negative data

European shares rise at open, shrug off negative data
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Mubasher: European shares opened Tuesday’s session on a higher note, despite the fall of Japan’s indices and the decline of Germany’s trade balance.

The trade balance of Germany narrowed month-on-month to EUR18.8 billion from EUR20.5 billion, the country's Federal Statistical Office stated, adding that public exports slumped 1.6% against 1.3% a month earlier; meanwhile, imports dropped 1.6% versus 0.5% reached last month.

Japanese stocks witnessed a sharp decline of more than 5%.

However, European shares moved upward as FTS100 rose by 0.57% to 5,722 points. Germany’s DAX also edged up 0.45% to 9,020 points; France’s CAC40 notched up 0.34% to 4,080; FTS MIB increased 0.7% to 16,555 points; IBEX35 grew 0.54% to 8,166 points; and finally STOXX600 opened 0.52% higher to 316 points.