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European Stocks Rebound as Yellen Clarifies Fed Rate Policy

  • Stoxx 600 rallies most in a month, trimming weekly drop
  • All industry groups rise, Italian shares gain most in Europe
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European stocks jumped from an eight-month low after Federal Reserve Chair Janet Yellen said she’s ready to raise rates this year, indicating recent market turmoil won’t derail the U.S. recovery.

Her comments helped clarify the Fed’s thinking, after the central bank’s decision to hold rates last week confused investors about the trajectory of U.S. rates and increased stock volatility. Following a selloff yesterday that wiped out its 2015 gains, the Stoxx Europe 600 Index closed 2.8 percent higher today.