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Global stocks soared on the back of European earnings and US jobless claims.

There was a strong rebound on global equities overnight, largely on the back of positive earnings reports out of Europe and a decent fall in US jobless claims. New claims fell to 331,000 in the week to February 1, which is 20,000 less than the week before. Again, this data adds to the view that the weakness we had seen in some other indicators was temporary – the rebound is on.

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