European shares rebound, China rate move helps sentiment

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By Samuel Indyk LONDON (Reuters) – Shares rebounded on Friday after China cut a key lending benchmark to support its economy, though a global equities gauge remained set for its longest weekly losing streak on record amid investor worries about slowing growth and high inflation. China cut its five-year loan prime rate (LPR) – which influences the pricing of mortgages – by 15 basis points on Friday morning, a sharper reduction than expected, as authorities seek to cushion the impact of an economic slowdown. It left the one-year LPR unchanged. At 1053 GMT, the pan-European STOXX 600 was up 1.6% …

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