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Europe markets close higher amid global rebound; coronavirus fears linger

European sells closed higher on Tuesday as sentiment improved and investors brushed aside economic fears over the coronavirus outbreak.

Supplies on the move

Earnings remain a key driver of individual share price action. Danish hospital equipment maker Ambu danced 24% after reporting double-digit sales growth for the first quarter of 2019/20.

At the other end of the European blue chip measure, Micro Focus saw its shares plummet 22% on the back of its chairman’s resignation following a “challenging year,” as the British IT society posted a pre-tax loss for fiscal 2019.

Carlsberg reported full-year sales broadly in line with expectations and prophesy mid single-digit organic profit growth in 2020, sending the Danish brewer’s shares around 3% higher.

Force giant BP posted better-than-expected full-year net profit, reporting a year-on-year fall of 21% on weak oil and gas prices. BP shares climbed 4%.

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