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Austerity Bomb

EUROPE MARKETS: Portugal Stocks Slump In Otherwise Upbeat Europe

Portuguese stocks slumped in an otherwise upbeat Europe on Monday, after the country's high court struck down some of the austerity measures enacted as part of its 78 billion euro ($101.5 billion) bailout.Most other European stock markets gained ground, rebounding after the biggest weekly selloff since November in the wake of Friday's weak U.S. employment data.The Stoxx Europe 600 index gained 0.2% to close at 287.64, after posting the biggest daily loss since October on Friday."We're seeing a bit of a bounce back. You had the U.S. markets close fairly solid [on Friday] compared to the losses in Europe and with the huge gains you saw today on the Nikkei there's a bit of a recovery," said Richard Perry, chief market strategist at Central Markets in London.But even with last week's dire data shaving off a good portion of the European indexes, Perry was reluctant to use this as a buy-in opportunity."Until the middle of last week I had been happy to buy into a correction. But the U.S. data...

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