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European Stocks Rally After Chinese Growth Data

European stock markets moved sharply higher at the open on Wednesday, with resource firms posting some of the biggest gains after better-than-expected growth data from China. The gross domestic product in China grew by 7.4% in the first quarter, beating forecasts of a 7.3% print, but below the 7.7% seen in the final quarter last year. The Stoxx Europe 600 index rose 0.9% to 329.49, partly recovering from a 1% slide on Tuesday. Mining firms helped boost the pan-European benchmark, getting a lift from the Chinese data. Shares of heavyweights Rio Tinto PLC and BHP Billiton PLC both gained more than 1%. Supermarket chain Tesco PLC jumped 3.5% after it reported full-year results. Among country-specific indexes, the U.K.'s FTSE 100 index climbed 0.7% to 6,587.53, while France's CAC 40 index added 1.1% to 4,393.51. Germany's DAX 30 index put on 0.9% to 9,261.28.Copyright © 2014 MarketWatch, Inc....

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