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2016.11.1106:14:00UTC+00European Shares Advanced as Trump Rally Continues

European shares gained, supported by advances among financial stocks after a firm update from Allianz. The pan-European STOXX 600 index added 0.1 percent.

Insurers and banks led sectoral gainers, supported by a jump in bond yields spurred by speculation of massive fiscal stimulus from U.S. President-elect Donald Trump. Allianz recorded a net profit of 1.56 billion euros ($1.7 billion), exceeding forecasts, as its shares climbed by over three percent. Altice reported third-quarter profit in advance of expectations bolstered by the robust performance in its U.S. businesses, which sent shares up by 2.5 percent. Advances were capped by declines among healthcares stocks as the sector's index fell 0.8 percent, also among heavyweight oil stocks, that dropped following concerns regarding an oversupply.

German inflation data has shown that as leisure inflation declined, total core inflation is still unchanged in October.

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