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European Markets Close Higher On Earnings, Recovery Hopes

May 5, 2021

European markets closed higher on Wednesday, reacting positively to some upbeat earnings reports and encouraging economic data that indicate a fairly strong global economic rebound.

Mining stocks moved higher as copper prices rose past a key psychological level of $10,000 a ton, supported by prospects for higher demand. Energy stocks gained in strength, as crude oil prices surged higher on expectations of increased demand for oil.

Investors were also looking ahead to Bank of England’s monetary policy, due on Thursday.

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