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Sept 15 (Reuters) - European stocks struggled for direction on Tuesday, with banking shares declining ahead of the U.S. and UK central bank meetings this week, while Sweden's H&M surged after reporting a better-than-expected profit.
The world's second-biggest fashion retailer HMb.ST surged 12% after its preliminary quarterly profit was better than expected and it signalled a better recovery from the pandemic's impact, boosting other retail stocks. Chrysler FCHA.MI rose 6% and Peugeot maker PSA PEUP.PA slipped 1% after the carmakers restructured the terms of their planned merger to conserve cash. shares rose after data showed China's industrial output accelerated the most in eight months in August, while retail sales grew for the first time this year, suggesting its economic recovery was gathering pace. MKTS/GLOB
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