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European Markets Recover from Friday’s Fall, As Tensions Ease For Now in Ukraine


European markets staged a broad recovery from Friday’s sudden fall this morning, as tensions between Russia and the Ukraine appeared to ease a little. The better mood followed a meeting between the Russian and Ukranian foreign ministers in Berlin on Sunday night. In London, the market was led up by resources stocks, including Rio Tinto plc, which announced a review of its holding in a big copper mine in Papua New Gunea. Construction stocks also rose, after good results from mid-cap housebuilder Bovis Homes. In France Vivendi rose on hopes of a $9.4 billion offer for its Brazilian telecoms business GVT from Telecom Italia. Germany’s United Internet rose sharply after a pre-IPO investment in the internet start-up incubator Rocket Internet, which is expected to list in the Fall. Swedish investment firm Kinnevik, which is Rocket Internet’s biggest backer also soared.