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14.06.2011 09:12:06

Europe stocks higher; Avis Europe soars on deal

MADRID (MarketWatch) -- European stock markets opened higher on Tuesday, with support coming from Asian gains after Chinese economic data didn't fuel expectations of aggressive tightening. The Stoxx Europe 600 index [xx:sxxp] rose 0.7% to 270.43, led by banks like Deutsche Bank AG and BNP Paribas SA , up 2% and 1.6%, as the market appeared to shake off a downgrade of Greece's credit rating by Standard & Poor's Ratings Services the prior day. Shares of Avis Europe PLC soared 58% after a takeover agreement, while Capgemini SA rose 1.4% after deal news. The FTSE 100 index rose 0.5% to 5,807.74, supported by miners and banks. The French CAC 40 index rose 1% to 3,843.12 and the German DAX 30 index rallied 1.2% to 7,170.55.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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