European stocks climbed to a six-year high amid better-than-estimated earnings from ThyssenKrupp AG to Airbus Group NV. ThyssenKrupp rose 4.1 percent after Germany��s biggest steelmaker also raised its full-year earnings forecast. Airbus advanced 6.2 percent. Pandora A/S jumped 8.1 percent after increasing its sales projection. Telecom Italia SpA declined 5.2 percent as quarterly revenue missed estimates. The Stoxx Europe 600 Index gained 0.3 percent to 341.89 at the close of trading in London. The gauge has risen 7.7 percent from this year��s low on Feb. 4 as mergers-and-acquisitions activity increased and European Central Bank President Mario Draghi said policy makers are ready to take action in June. In Germany, the ZEW Center for European Economic Research��s gauge of investor and analyst expectations fell to 33.1 this month from 43.2 in April, also missing projections. The Stoxx 600 rose earlier today on speculation the Bundesbank is open to more stimulus. Germany��s central bank is willing to back measures from the European Central Bank next month if staff forecasts show a lower 2016 inflation outlook, the Wall Street Journal reported, citing a person familiar with the matter.
Source : Bloomberg