Tuesday March 21, 2017
04:35 PM GMT+8

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LONDON, March 21 — European shares gained today with cyclicals, banking and oil stocks outperforming, reversing a cautious start to the week.

Among banks, Deutsche Bank was the top gainer, 3.6 per cent above its theoretical ex-rights price as the subscription period for its 8 billion (RM3.8 billion) capital hike began.

French banks also rallied, with BNP Paribas, Societe Generale and Credit Agricole up between 1.1 and 1.8 per cent, after the first presidential debate at which centrist Emmanuel Macron cemented his status as frontrunner.

Shares in Swedish biometric company Fingerprint Cards plummeted 41 per cent to a 20-month low after it said it expected an even weaker first-quarter compared to an already weak outlook, and withdrew its forecast for full-year revenues and profitability.

Asset management firm Partners Group was the top gainer after it posted a 41 per cent rise in profits for 2016 and hiked its dividend 43 per cent, reconfirming gross client demand for 2017 of 8 to 10 billion.

Dutch paints and coatings producer Akzo Nobel was up 3.9 per cent after reports US company PPG was preparing a renewed takeover bid after its initial offer was rejected. — Reuters

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