European Shares Gain As Decision On Syria Strike Gets Delayed


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European stocks rose as investors digested news that the US may not perform a military strike on Syria.

US President Barack Obama said late Tuesday he asked Congress to delay a vote on whether to authorize a strike in Syria after Russia suggested Bashar al-Assad's government give up its chemical weapons to the international community to avert an attack.

Around the region, UK unemployment unexpectedly fell to 7.7% in the period from May to July, down from a level of 7.8% in the months from February to April, according to the Office for National Statistics. Analysts had expected the rate to remain at 7.8%.

In ADR news, ARM Holdings ( ARMH ) will benefit from the launch of Apple's ( AAPL ) iPhone 5S, Deutsche Bank said.

HSBC ( HBC ) was downgraded by J.P. Morgan Cazenove to neutral from overweight to avoid exposure to emerging markets.

Nokia ( NOK ) was raised to buy from sell at Berenberg Bank, citing a stronger infrastructure business and an undervalued patent portfolio.

The FTSE-100 was last up 0.07% at 6,588.43, the DAX up 0.58% at 8,495.73 and the CAC-40 up 0.06% at 4,119.11.

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This article appears in: Investing , Commodities
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