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European shares rise slightly, banks fall

Reuters / Thursday, August 12, 2010

European stocks were slightly higher at midday on Thursday, with highs of Anheuser-Busch InBev having published results that beat expectations, while banks fell amid concerns the global economic recovery. Anheuser-Busch InBev, the largest brewer in the world, rose 1.75 percent after the publication of its second-quarter results that beat expectations, helped by good weather and great beer sales in Brazil. At 11:48 GMT, the index of top European shares, the FTSEurofirst 300 was up 0.25 percent at 1043.20 points, after seeing falls during the negotiations in the morning. "It's just a continuation of global growth concerns," said Mark Priest, trader at ETX Capital bag. "Now be a matter of wait and see if the U.S. unemployment figures are due at 1230 GMT." Fears about the economy were reinforced on Wednesday by data showing a trade deficit that suggests slower growth than expected, after the pessimistic forecasts of Federal Reserve data for China. The banks continued to fall on Thursday, following the trend of the last two sessions, with the Stoxx Europe 600 banks recorded falls of 0.64 percent. Deutsche Bank, Barclays and Credit Agricole fell between 0.25 and 2.66 percent.

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