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Global stocks rise, bond yields subdued as more stimulus eyed

NEW YORK World stocks rose for a third straight day and bond yields hovered near record lows as investors expected additional stimulus measures from central banks in the wake of Britain's vote to leave the European Union and as the Bank of England raised the prospect of bond buying this summer.

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S&P cuts rating on EU to 'AA' after Brexit

Standard & Poor's Global Ratings said on Thursday it had cut its long-term credit rating on the European Union to 'AA' from 'AA+' but raised its outlook to "stable" from "negative" after the United Kingdom voted to leave the bloc.

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Hershey rejects $23 billion Mondelez takeover offer

Hershey Co said on Thursday it had rejected a $23 billion (17.37 billion pounds) preliminary offer by Mondelez International Inc that would seek to expand the latter's U.S. footprint and create the world's largest confectioner.

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Sterling tumbles after dovish comments from BoE's Carney

NEW YORK The U.S. dollar gained against the sterling and the euro on Thursday, snapping two straight days of losses, after Bank of England Governor Mark Carney said he saw the need for more stimulus and a Bloomberg report hinted at more European Central Bank easing.

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