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European stocks start mixed

On Tuesday, European stocks were mixed, as market sentiment remained globally upbeat, following the election of Donald Trump as president of America the previous week, while dismal German third-quarter growth weighed.

During European morning trade, the EURO STOXX 50 went down 0.32%, French CAC 40 ascended 0.24%, while German DAX 30 lost 0.10%.

Market sentiment remained broadly backed by hopes that increased fiscal spending as well as tax cuts under a Trump administration will spur economic growth and inflation.

However, hopes for higher American interest rates also remained intact, following optimism that a pick-up in growth will enable the Fed to tighten borrowing costs.

Earlier on Tuesday, preliminary data disclosed that German GDP ascended 2% during the third quarter, thus ruining hopes for a surge of 0.3% and down from a surge rate of 0.4% in the previous quarter.

In London, FTSE 100 managed to gain up to 0.59%, backed by Pearson Plc, whose stocks rose 5.32%.

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