Scoreboard: Europe euphoria

European shares rallied to their highest point in over five years while the US trade deficit shrunk on better than expected exports.

In US economic news, the US trade deficit narrowed by 12.9 per cent to $US34.3 billion – the smallest deficit in four years. Exports lifted by 0.9 per cent to a record high $US194.9 billion, largely driven by a record lift in petroleum exports. Imports fell by 1.4 per cent.


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