Markets

European Markets Close Higher as EU Imposes Anti-Dumping Duties on Steel; Greek Bailout Remaining Elusive

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Europe's main equity benchmarks closed the day higher on Thursday, helped by the European Commission's plant to impose provision anti-dumping duties on imports of certain steels from China, Japan, the Republic of Korea, Russia and the U.S.

Meanwhile Greece Finance Minister Yanis Varoufakis delivered a keynote speech at the Economist Athens Conference. The cash-strapped country which is on the brink of going bankrupt is yet to announce a bailout deal with international creditors despite months of wrangling.

Investors also waited as European Central Bank (ECB) President Mario Draghi and International Monetary Fund (IMF) President Christine Lagarde convened a meeting following the Camdessus Central Banking Lecture at the IMF in Washington. Both individuals are arguably among the most influential decision makers in Europe with regard to the future of Greece within the 19-country single currency bloc.

Steel makers rose in Europe, led by ArcelorMittal closing higher 5.7% in Amsterdam, ThyssenKupp adding 2.8% in Frankfurt and Tenaris closing up 1.3% in Milan.

In other news, British telecommunication company TalkTalk Telecom Group PLC closed higher 5.8% in London after publishing its preliminary results for the 12 months to March 31st 2015. The company posted 4.2% revenue growth in the year, accelerating to 6.0% in Q4.

And shares in Tod's SpA, an Italy-based holding company that creates shoes, leather goods, accessorizes and apparel, added 2.0% after the company posted its Q1 2015 interim report on Wednesday. The group's sales stood at EUR257.7 million ($293.8 million), up 1.5% from Q1 2014.

The FTSE closed up 0.34%, the DAX added 1.84% and the CAC-40 ended higher 1.36%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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