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Large companies lifted European equities Friday as a rally to Vodafone and strong results from media companies and Nestle, which boosted the ECB's sales rebound.
The European Stoxx 600 rose 0.3% after its worst session in three weeks. The British Financial Times 100 Index outperformed other European indices with a 0.8% advance, supported by telecom companies.
Vodafone posted its strongest performance since the end of 2002, up 10.6%. It plans to separate the European communication tower into a new 18 billion euro company offering potential for listing on the stock market.
The European index of the telecommunications sector is up 2.3%, Selenix, the largest European telecom group, currently up 3.3% and Telecom Italia 4.1% after Vodafone decided to jointly deploy a 5th generation technology in Italy and integrate communication towers. For the three companies.
But media values led the gains after the encouraging results of Vivendi (France), SES (satellite) and Pearson.
Nestlé also grew nearly 2% after posting the fastest quarterly sales growth of the past three years.
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