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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 subdued as investors mull Biden call on Ukraine weapons

(Sharecast News) - European shares made a subdued start to the week as investors mulled US President Joe Biden's decision to lift a ban on Ukraine using American-made long-range missiles to strike Russia. The pan-European Stoxx 600 index was down 0.06% at 502.7 in early deals, although major regional bourses were in the green. With no major economic releases expected, there was little to drive sentiment.

Biden reportedly allowed the use of Atacms rockets, which have a range of 300kms in response to the presence of North Korean troops fighting alongside Russia against Ukraine.

In equity news, shares in Melrose surged as the UK aerospace company reported a 7% rise in revenue in the four months for October 31 driven by a strong rise in aftermarket work, particularly in defence.

Shares in Grifols fell on a report by Spanish news website El Confidencial that Canadian fund Brookfield plans to offer about €7bn for the Spanish drugmaker.

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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