European stocks climb higher on banking and mining strength

<p>European shares recovered from previous lows this morning, with the banking and mining sectors taking the lead. Eurasian Natural Resources was up 6.25% at 258p, […]</p>

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European shares recovered from previous lows this morning, with the banking and mining sectors taking the lead.

Eurasian Natural Resources was up 6.25% at 258p, while Aviva was up 1.29% at 299.5p.

In indices, the FTSE was trading at 6282, the DAX at 7680 and Dow Futures at 14565. The Japanese Nikkei closed at its highest level in 5 years yesterday, shrugging off weak US jobs data and the Bank of Japan buying longer dated bonds.

In FX, GBP/JPY is trading at 151.42, GBP/USD is trading at 1.5334, GBP/EUR is trading at 1.1799 and USD/EUR is trading at 0.7694.

Gold is currently trading at $1577.80 per ounce, while oil is trading at $93.37 per barrel.

Boeing Co closed up yesterday at of the leaderboard, up 1.44% at $86.17; whilst BAE Systems and Centrica were the worst performers, down 0.05% to 386p and 0.21% to 373p respectively.

In economic data, keep an eye out for German industrial production data, which is due out at 10am GMT.

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