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Alsharq Tribune
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European Shares Open Higher

European Shares Open Higher
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Alsharq Tribune-AFP 

European shares jumped on Wednesday, following their steepest decline in over six months, as German leaders agreed to relax the nation's debt restrictions.

Germany's blue-chip index jumped 2.6% to trade near a record high. The parties hoping to form Germany's next government agreed to create a 500 billion euro ($534 billion) infrastructure fund and loosen fiscal rules to boost defense spending and revitalize growth.

Germany's 10-year benchmark yield jumped 20 basis points to 2.680%.

The broader STOXX 600 index rose by 1.1%, after it logged its worst day since August 2024 on Tuesday as US President Donald Trump's new 25% tariffs on imports from Mexico and Canada took effect.

The index of European banks led the sectorial gains, rising about 4%.

 

Defense stocks Rheinmetall and Renk were up between 1.3% and 5.5%, respectively.

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