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European stocks hover near record high, Cineworld gains

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May 24 (Reuters) - European stocks hovered near record highs on Monday as investors counted on continued economic recovery and strength in corporate earnings to keep the market momentum going.

The pan-European STOXX 600 index rose 0.02% to 444.50 points by 0707 GMT, just below its record high of 446.19 points.

Cineworld Group Plc rose 3.1% after animated adventure comedy “Peter Rabbit 2: The Runaway” pulled in more people than expected after a months-long COVID-19 lockdown.

Travel stocks came under pressure after Germany’s public health institute declared Britain and Northern Ireland a virus variant region, requiring anyone entering the country from the United Kingdom to quarantine for two weeks on arrival.

Shares in Wizz Air and easyJet were down about 1% each.

Markets in Austria, Denmark, Hungary, Norway, Switzerland and Germany were closed for holiday. (Reporting by Sruthi Shankar in Bengaluru; Editing by Arun Koyyur)

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