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2016.11.0806:12:00UTC+00European Stocks Higher as Investors Anticipate U.S. Election Results

European stocks inched higher on the day of the U.S. presidential election, which has jolted equity markets. The Pan-European Stoxx 600 Index gained 0.3 percent, as most of the sectors and bourses were in green territory.

Latest opinion polls have shown that Hillary Clinton is ahead of Donald Trump. Worries regarding the central bank's policy tightening and the modest earnings season has also affected European stocks since it hit a four-month high in September.

Shares of Credit Agricole SA climbed 4.6 percent following its report that quarterly profit doubled from the previous year and bond-trading income rose. Vestas Wind Systems A/S gained 2.8 percent after it raised its full-year forecast and recorded third-quarter earnings that exceeded expectations. Associated British Foods Plc advanced 4.3 percent. Deutsche Post AG climbed 1.3 percent after its report that third-quarter profit surged. ArcelorMittal declined 4.4 percent following its warning that an increase in prices of coal may affect earnings in the last three months of 2016.

Latest data has shown that German industrial output contracted in September. Output declined 1.8 percent in comparison to the previous month. Preliminary figures has shown that German exports contracted 0.7 percent in September.

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