European stocks on course for seventh straight month of gains

The benchmark STOXX 600 was on course to end August with gains of more than 2.6%, in what could be its longest monthly winning run since 2013.

Strong earnings and a relatively high rate of vaccination have boosted European recovery hopes, while U.S. Federal Reserve's remarks last week reaffirmed views they were in no rush to tighten monetary policy."On the China side, it's worth noting that it's been priced in for a while. While the data is quite weak, the situation has evolved over the last couple of weeks," Erlam said.Meanwhile, data showed German unemployment fell more than expected in August.

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