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European autos were higher on consolidation moves. Adding to that Miners also gained.
European equities FTSE,CAC and DAX ended higher as data that reassured on the prospects of economic recovery proved a stronger theme than euro zone debt worries, and with the auto sector among those driven up by M&A activity. Dean Tenerelli, fund manager at T Rowe Price in London said: "I'm not surprised the market has gone up. There's a recovery going on in the United States, and in Europe, though it's in some countries there more than others. It's been a very good earnings season. Profitability is good. The European market is trading at 10 or 11 times earnings. It's ridiculously low. Forget where we've come from. Look at the valuations."
