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Market Update

Europe Stocks Up Ahead of Policy Meets

European markets climbed in early action Thursday ahead of key central bank meetings in the region.

The FTSE 100 rose 0.9% at 8:44 a.m. London time. The CAC 40 Paris gained 0.6% while the DAX Frankfurt added 0.7% at the time of writing.

The European Central Bank is scheduled to hold a policy meeting later today in Frankfurt, and will announce its interest-rate decision after the meeting. President Mario Draghi will address a press conference shortly after the meeting.

Meanwhile, the Bank of England will also announce its policy decision later in the day.

In economic news, data released today showed unemployment rate in France during the second quarter rose to its highest level since 1998.

Also of note, the Senate Foreign Relations Committee voted in favour of President Barack Obama's proposal to launch a militiary offensive against Syria. A decisive vote on the resolution is expected next week.

Stocks on the Move

Financials as well as resources stocks were trading modestly higher across the region.

London-listed Barclays Plc. tacked on 2% while Lloyds Banking Group Plc. rose 2.5%.

French lender Societe Generale SA moved up 1.7% while Credit Agricole SA and BNP Paribas SA improved around a percent each.

Deutsche Bank AG edged up 0.3% while Commerzbank was trading slightly higher in Germany.

Among miners, Rio Tinto Plc. enhanced over a percent while Anglo American Plc. gained more than 2%. BHP Billiton Plc. was up a modest 0.2%.

In stock specific moves, French car maker Peugot SA rallied 3.4% after the company's top executive said it would gain market share in France in the final quarter of the year after a sharp drop in August sales.

Meanwhile in London, global pharma giant GlaxoSmithKline plc. lost 0.8% after the company said its cancer drug MAGE-A3 did not meet the first target in melanoma trial.