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2016.11.1006:38:00UTC+00European Shares Reach 2-Week High on Trump Victory

European equities gained for the fourth consecutive session to a two-week high as lenders earned a second-day boost after Donald Trump won the U.S. presidential election. Advances were led by miners and banks, with positive results from firms like Vivendi supporting the wider market.

The pan-European STOXX 600 rose 1.3 percent. Investors focused on the key policies of Trump that include generous tax reductions and higher infrastructure, defence spending, and deregulation for lenders, analysts said. The leaders of the rally which pulled up European shares were Credit Suisse Group AG and UBS Group. Shares of Credit Suisse climbed 5.8 percent.

France's media firm Vivendi SA surged 11 percent following a report of its profit that exceeded projections. Siemens AG jumped 4.4 percent, Zurich Insurance Group AG edged up 2.1 percent and Lanxess AG gained 2.6 percent. Engie SA dropped 5.6 percent after it said that earnings in 2016 will be at the low end of the forecast. Telekom AG was down 1.4 percent and Aegon NV jumped nine percent.

The European mining index added 3.2 percent while banking stocks also climbed three percent boosted by the 5.7 to 6.8 gains in Credit Suisse, UBS and Banco Popolare.

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