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Siemens raises its outlook
German technology group Siemens, a bellwether of the Eurozone’s biggest economy, raised its full-year outlook after robust demand from factories in emerging markets bolstered its second-quarter business. Siemens, whose products range from hearing aids and light bulbs to fast trains and power plants, said yesterday it saw broad-based growth in all markets, with strong appetite from developing regions for its industrial automation technology. The company, which is looking to float its lighting business Osram, said earnings were also boosted by an expected €1.5bn (£1.4bn) gain from the sale of its stake in Areva NP to partner Areva SA. Siemens’ earnings mirror recent gains by European engineering rivals on the back of emerging market demand.