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European markets edge higher; Meggitt up 13%
The pan-European Stoxx 600 hovered around the flatline during trading and closed 0.19 percent higher, mainly supported by retail stocks. The British defense and energy engineer Meggitt ended the day at the top of the European benchmark, having jumped 13 percent Tuesday after announcing an increase in revenue for 2016. The FTSE ended the day up 0.14 percent; the DAX closed at 0.1 percent; and the CAC ended up at 0.28 percent. The Spanish company Ferrovial also ended the day up 4.3 percent after presenting its full year results. The Food and biopharma product testing Eurofins saw its worst day in eight months, after lower-than-expected earnings.Meanwhile, ITV reported a 3 percent increase in adjusted earnings per share, which sent its shares higher in late morning trading. On the other hand, chemical company Covestro looked to close the day down 6.49 percent after a share placement. Shares of Intesa Sanpaolo were also higher at close of play Wednesday, up over 4.5 percent. U.S. markets opened to record highs Wednesday morning following the speech, which also pledged a roll back of business regulations. The pan-European Stoxx 600 was 1.47 percent higher with all sectors trading in positive territory.
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