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Most European stocks climbed as China’s economy accelerated for the first time in two years.
China’s gross domestic product advanced 7.9 percent in the fourth quarter from a year earlier, the National Bureau of Statistics said in Beijing. That compared with the median economist estimate of 7.8 percent and growth of 7.4 percent in the third quarter.
In the U.K., a report from the Office for National Statistics showed that retail sales declined 0.1 percent in December. The median economist estimate had called for an increase of 0.2 percent.
Rio Tinto advanced 1.5 percent to 3,490 pence after Goldman Sachs said the commodity producer may return cash to shareholders. The London-listed mining company might seek goodwill following yesterday’s announcement that it will write down $14 billion for its acquisitions of Alcan Inc. and Riversdale Mining Ltd., the brokerage said. Tom Albanese, who oversaw the purchases as chief executive officer, stepped down.
Ophir Energy gained 3.3 percent to 544.5 pence after Nomura raised its recommendation on the shares to buy from reduce. The U.K. oil and gas explorer may make major discoveries in Gabon and Tanzania, analyst Tom Robinson wrote.
Mediaset SpA jumped 8.3 percent to 2.07 euros after Berenberg Bank raised its price forecast for the shares to 2.60 euros from 1.90 euros and reiterated its buy rating.
FTSE 100 6,165.7 +33.34 +0.54%
CAC 40 3,752.24 +8.13 +0.22%
DAX 7,729.75 -5.71 -0.07%
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