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European shares rally from lows as ECB hikes interest rates as expected

News Snapshot:

The blue-chip Dow Jones Industrial Average was ahead in early afternoon trading following a slew of upbeat earnings reports and data that showed US economic growth rebounded in the third quarter. Photograph: Spencer Platt/Getty European stocks emerged from their session lows and closed unchanged on Thursday after the European Central Bank (ECB) raised interest rates by an expected 0.75 of a percentage point and signalled a slower pace of rate hikes going forward. The pan-European Stoxx 600 index closed flat, while an index of euro zone stocks ended the day down 0.1 per cent. It had shed as much as…

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