Stocks and Sterling Advance on Brexit Talks Extension

London, Dec 14 (AFP/APP): European stock markets and the sterling advanced Monday after Britain and the European Union agreed to extend talks on a post-Brexit trade deal past a self-imposed deadline.

In afternoon deals, London shares rose 0.2 percent but gains were capped by the strong pound, which weighs on profits of dollar-earning multinationals listed in the British capital. The market was also tempered by a 7.9-percent drop in AstraZeneca shares, after the drugmaker agreed Saturday to buy US biotech firm Alexion for a hefty $39 billion (32.2 billion euros), sparking investor concerns about the high price tag.

Frankfurt stocks jumped 1.1 percent and Paris gained 1.0 percent in afternoon eurozone deals.

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