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European Stocks Post Solid Gains

Canada's benchmark TSE 300 Composite Index extended its bullish run, rising to 7774.20 after adding 127.41 points or 1.67%.

European markets finished solidly higher on new year buying spawned by hopes the U.S. economy will rebound. In London, the Financial Times-Stock Exchange 100 index climbed 100.50 points, or 1.93%, to 5,318.80, on a report that retailers had their best Christmas sales season in 14 years and that consumer credit is expected to climb.

In Germany, the DAX Index gained 111.51 points, or 2.16%, to 5,279.39. In France, the CAC 40 rose 100.76 points, or 2.20%, to 4,681.20.

Not all Asia markets were open. The Tokyo stock market was closed for the holidays Monday through Thursday of this week (Dec. 31, 2001 through Jan. 3, 2002). The Nikkei ended 2001 up 85.01 points, or 0.81%, to 10,542.62. In Hong Kong on Thursday, the Hang Seng rose 72.67 points, or 0.64%, to 11,423.54.

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