European markets open higher as oil slumps, euro and sterling firm, and autos lead the rally
Executive summary: European equities opened broadly stronger, with the Euro Stoxx 50, DAX and CAC 40 all advancing more than 2% while Brent crude dropped sharply and the dollar weakened against the euro and pound. The move points to a classic risk-on start for the region, helped by lower energy costs and a softer USD/JPY, although the FTSE 100 lagged slightly in early trade. [Continue Reading]
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