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Dear Mum, I'm sorry this letter is so long. I didn't have time to write a short one. This is the essential paradox of productivity, and why it is so hard to measure. It's easy to count the output of widgets ...
A run higher for energy shares and miners, as well as strong updates from Norwegian lender DNB, and a more dovish tone from U.S. Federal Reserve Chief Yellen, helped drive European shares up on Wednesday, though renewed pain for publisher Pearson weighed on the media sector. European shares made early gains and were given a second wind in afternoon trading when Federal Reserve Chair Janet Yellen dampened expectations of more than one interest rate hike this year.
European bourses edged higher Wednesday as investors digested corporate earnings and looked to the US for testimony comments from Fed Chair Janet Yellen.