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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Europe open: Shares edge ahead after record day; Mondi/Smith deal in focus

(Sharecast News) - European markets edged ahead at the opening as investors turned their attention to weekly US jobs data. The pan-European Stoxx 600 was up 0.06% to 503.47 after hitting record highs on Thursday as the European Central Bank revised down its forecast for inflation this year to 2.3% from 2.7% and held interest rates at 4%.

In economic news, German industrial output rose 1% in January, beating expectations of the 0.5% expected, while construction and manufacturing output also rose 2.7% and 1.1%, respectively.

In equity news, shares in paper and packaging maker DS Smith gained after it agreed to be taken over by larger rival Mondi in a £5.1bn deal. Mondi shares fell on the news.

Reporting by Frank Prenesti for Sharecast.com

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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