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Europe shares end higher; China move lifts commods

Mon Nov 10, 2008 11:09pm IST
 
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* FTSEurofirst 300 index closes up 0.9 percent

* Commodities gain on China effect

* Banks remain under pressure

By Joanne Frearson

LONDON, Nov 10 (Reuters) - European shares rose on Monday as commodities surged on a near $600-billion Chinese economic stimulus plan, though stocks ended well off day highs on doubts about whether the plan was enough to avert a sharp global slowdown.

The FTSEurofirst 300 index of top European shares closed up 0.9 percent at 922.48 points, below the day's high of 945.55 points.

This was the eighth day of gains in the last 10 for the pan-European benchmark.

China approved a $586 billion government spending package and announced a shift to "moderately easy" monetary policy despite having already made three interest rate cuts since mid-September.  Continued...

Russian Finance Minister Alexey Kudrin poses with his G20 colleagues and central bank leaders during the family photo at the G20 Finance Ministers meeting at a hotel in St. Andrews, Scotland. REUTERS/POOL New
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