European stocks climb but Flutter Entertainment drags Dublin market lower

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Bank shares rebound after Italian government clarifies that new windfall tax will not exceed 0.1% of total assets

But Ryanair closed 2.3 per cent lower at €15.72, building materials giant CRH waned 1 per cent to €53.40 and Glanbia eased 0.9 per cent to €14.14, making the Irish stock market the only European one to fall on the day.The UK’s FTSE 100 rose 0.8 per cent, driven by a sharp rally in energy and mining stocks after Chinese deflation spurred hopes of more stimulus, while upbeat blue-chip earnings also boosted sentiment. The mid-cap FTSE 250 closed 0.5 per cent higher.

Among companies reporting, bottler Coca-Cola HBC rose 0.7 per cent after raising its annual sales outlook. Italian lenders such as Finecobank, Banco BPM and UniCredit added between 4.3 per cent and 7.1 per cent, while the banks-heavy FTSE MIB index rose 0.4 per cent. Elsewhere, Delivery Hero advanced 4.7 per cent after the German online takeaway food company raised its full-year revenue outlook.Wall Street’s main indexes fell in early trading ahead of a key inflation report this week, with investors also assessing remarks from US Federal Reserve officials.

 

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