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Reinvigorated Europe making a mark on Japan stocks

Renewed business confidence buoys equipment suppliers and shippers

DMG Mori is enjoying strong European demand for its machine tools.

TOKYO -- The Japanese equities market's strong showing in the new year owes partly to companies with ties to Europe, a region often overshadowed by the U.S. and China but now coming to the fore as it breaks out of its post-crisis doldrums.

DMG Mori rallied for a third straight trading day Tuesday to within 1 yen of its highest level since the start of 2017. Europe, the Middle East and Africa account for more than half of equipment orders at the Japanese machine tool builder, which integrated with a German partner in 2015. The company's shares have gained 76% since the end of 2016, outpacing those of such peers as Okuma.

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