Gold lifts European stocks amid weak Japanese growth
European stocks rose significantly, supported by gains in the basic materials sector, which increased by 1.4%. Shares of mining companies such as Antofagasta and Glencore advanced between 2.2% and 2.7%. This came amid a decline in the dollar's value and expectations of no interest rate hikes in the United States, boosting investor sentiment. In Japan, most stocks fell at the start of trading, but the Nikkei index closed up by 0.74%, despite economic growth slowing to 1.1% in the second quarter, due to weak consumption and tensions in the Middle East that led to higher oil prices and increased yields on Japanese government bonds.
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