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Europe markets close higher following US midterm elections

The pan-European Stoxx 600 drifting provisionally up by 1.03 percent with every sector in the black. Banks, retail and construction compresses were among the top performers.

The FTSE 100 ended provisionally up by 1 percent, Germany’s DAX by 0.8 percent, France’s CAC by 1.1 percent, and Spain’s IBEX by 2.1 percent.

Spanish banking stereotypes pushed the sector higher after a Supreme Court ruling that banks are not call for to pay levies on mortgages, sparing them from potentially having to pay back billions of euros to borrowers who for years have paid the tax themselves. Banco Sabadell generate 2.4 percent and Caixabank was 4.3 percent higher by the close.

Retail supplies traded higher on the back of earnings news. Delivery Hero grow more than 4 percent on strong third-quarter results. The German sportswear retailer, Adidas level 3.6 percent, despite raising its profit guidance for the year.

In the U.K., house-builder tight Persimmon announced that its CEO Jeff Fairburn will leave the corporation at the end of the year. Fairburn said that a scandal related to a $75 million compensation was an ongoing “distraction” that had dented the company’s reputation. He will make the payout.

U.S. stocks rallied on Wednesday after the midterm election dnouement develops came in about as expected. According to NBC news, the Democrats are set to win control of the Family of Representatives. NBC News also projected the GOP would maintain control of the Senate. Investors force be monitoring the midterms’ results to understand what the likely implications of the show of hands for U.S. policy are. Health stocks moved higher after voters in California rejected a design to cap profits on dialysis companies. Fresenius Medical rose 8 percent and led the gets in Europe.

In terms of data, euro zone retail sales matter showed an improvement in September, indicating strong consumer demand. Eurostat pronounced that sales jumped 0.8 percent year-on-year.

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