January 22, 2020 / 8:23 AM / a month ago

European shares rebound; German stocks climb to record high

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Jan 22 (Reuters) - European shares bounced back on Wednesday as China’s efforts to contain a coronavirus outbreak eased worries of a global pandemic, while the trade-sensitive German shares hit record levels.

By 0806 GMT, the pan-European STOXX 600 was up 0.2%. Frankfurt’s DAX outperformed regional peers, after a survey showed that a U.S.-China trade truce had lifted German investor morale to its highest since 2015.

Britain’s Berkeley Group Plc jumped 6% to the top of STOXX 600 index as the housebuilder said it will increase its returns to shareholders by about 455 million pounds ($594.00 million) over the next two years.

Italy’s FTMIB, however, lagged on reports that Luigi di Maio would step down as the leader of the co-ruling 5-Star Movement. (Reporting by Medha Singh in Bengaluru; Editing by Anil D’Silva)

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