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Showing posts with the label CNBC I European Markets at Close Report July 17

CNBC I European Markets at Close Report July 17, 2013

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Europe stocks close higher after rallying on Bernanke's comments European shares closed higher on Wednesday after comments by the Federal Reserve Chairman Ben Bernanke hinted that the plan for the scaling back of stimulus could be altered if economic data begins to bring negative surprises. The pan European FTSEurofirst 300 index provisionally closed up 0.6 percent to 1,198.30 points, rallying in the afternoon as a statement was released by Federal Reserve Chairman Ben Bernanke ahead of his hearing before a Congressional committee. In a printed copy of the testimony released on the Federal Reserve's website, Bernanke said that asset purchases - which have helped stocks to hit new all-time highs this year - depend on economic and financial developments and they are by no means on a preset course. "If the outlook for employment were to become relatively less favorable, if inflation did not appear