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European Stocks Gain Strongly After JPMorgan

MARKETS-EUROPE-STOCKS

OCTOBER 17 2007 13:53h

European Stocks Gain Strongly After JPMorgan

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Brewers Carlsberg and Heineken said they were in talks to make a cash offer for Britains biggest brewer Scottish and Newcastle.

European stocks gained ground around midday on Wednesday after better-than-expected results from JPMorgan Chase calmed worries over the impact of a squeeze in credit markets.

At 1121 GMT, the FTSEurofirst 300 index of top European shares was up 0.6 percent at 1,585.25 points.

Mergers and acquisitions activity also boosted the market. Brewers Carlsberg and Heineken said they were in talks to make a cash offer for Britain's biggest brewer Scottish and Newcastle.

Scottish and Newcastle jumped 19 percent, while Carlsberg gained 7 percent and Heineken surged 4.6 percent.

 
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