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European stocks soar on Fed tapering

Published on Dec 20, 2013 1:40 AM

LONDON (AFP) - European markets soared Thursday after the US Federal Reserve boosted confidence in the economic recovery by announcing plans to scale back its vast stimulus programme.

The dollar won strong support, hitting a five-year high of 104.37 yen in Asian deals, before profit-taking set in.

The Fed announcement did not spark any major movement in bond markets as was feared.

London's benchmark FTSE 100 index ended the day up 1.43 per cent at 6,584.7 points, while Frankfurt's DAX 30 jumped 1.68 per cent to 9,335.74 points and the CAC 40 in Paris climbed 1.64 per cent to 4,177.03 points.

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