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H&R Block leapt 58 cents, or 4 percent, to $15.67. The tax preparation company posted a lower fourth-quarter profit than analyst had expected, but the company gained valuable market share while cutting jobs and closing stores to focus on electronic tax filing. The Nasdaq composite average rose 21.26 points to 2,875.32. Investors remain wracked with concern about Europe as leaders there prepare for a two-day summit aimed at defusing their lingering debt crisis. German Chancellor Angela Merkel warned Wednesday that there would be no quick solution to the structural issues plaguing the continent. Europe will cause volatile stock trading in the coming weeks because the summit is unlikely to produce a lasting solution, Gartman said. The meeting is scheduled to be two days, he said, but Italian Prime Minister Mario Monti promised to keep it going until Sunday if an agreement has not been reached. "I think he can keep them there until Sunday five weeks from now and there's little chance they'll agree," Gartman said.
[Associated
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