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. Last Updated: 07/27/2016

Strong Wall Street Opening Boosts European Markets

LONDON -- European bourses shrugged off interest rate worries Monday and perked up strongly, reinvigorated by a strong opening on Wall Street.


Stocks in London, Frankfurt and Paris climbed briskly after a dull start as Wall Street, which put on a roller-coaster performance last week, surged at the opening with technology stocks sharply higher.


Europe had begun the day in a nervous mood because of last Friday's strong U.S. economic data which cast further doubts on prospects for lower interest rates. But as the Dow Jones index climbed about 50 points on its close of 5584.97, European stocks took on a healthier glow.


Dutch shares raced ahead to end at record high of 524.82 points after Wall Street gave the bourse a big boost. Technology sector stocks stood out, lifted by U.S. technology stocks.


London shares closed up 0.68 percent after a weak start with investors untroubled by a 2.95 billion sterling ($4.5 billion) figure for February's government overdraft.


"It's about what was expected but it will still be slightly disappointing from the government's point of view. They won't meet their target for this year," said Paul Mortimer-Lee at Banque Paribas.


The data was the first in a busy week for economic statistics with U.S retail sales numbers for February and Britain's money supply data and February retail sales due Wednesday.