Europe close: Modest gains for stocks

Stocks moved off their lows of the session to finish higher, with sentiment helped by positive corporate results overseas and despite further weak prints on economic activity in the euro area. Nevertheless, and on a medium-term basis, some prominent analysts remained cautious. In a research note sent to clients on Wednesday, strategists at Morgan Stanley said: "[We see] a high probability that global equities will make an important cyclical top this year. We are sceptical that changes in tax ...

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