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European stocks rally ahead of COVID vaccine approval

European stocks rally ahead of COVID vaccine approval

(Reuters) - European stocks rally on Tuesday as optimism over coronavirus vaccines boost hopes for economic recovery and fueling stock markets to extend November rally.

Having declined the day before due to profit-taking by investors at the end of the month, the pan-European STOXX 600 index by 12:05 Moscow time rose 0.85%. In November, the benchmark added almost 14%.

German DAX up 1.03%, French CAC up 0.99%.

Strong economic data from China also supported the optimism. A private survey found that business activity in the country's manufacturing sector accelerated growth in November at the fastest pace in 10 years.

(Susan Matthew in Bangalore, translated by Olga Devyatiarova. Editor Anna Kozlova)

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