Gains in commodity producers and carmakers pushed European stocks up for a second day.
The Stoxx Europe 600 Index rose 0.3 percent at 8:11 a.m. in London. Miners advanced for the first time in five days as commodities climbed. Automakers gained, with the euro trading near its lowest level since April.
The European stock benchmark gauge rallied 1.4 percent yesterday, climbing after a two-day slump. The index is again nearing a three-month high, spurred by speculation the European Central Bank will add to stimulus measures and that the global economy is strong enough to withstand an increase in U.S. borrowing costs.
Europe’s stocks have regained more than half of their losses since a September low, with the Stoxx 600 closing yesterday 8 percent below the record reached in April. While they’re up in November for a second month, travel shares have been hurt amid terror attacks and geopolitical tensions, and miners further declined as commodities reached their lowest prices since 1999.
U.S. markets are closed today for the Thanksgiving holiday. Futures on the Standard & Poor’s 500 Index expiring in December rose 0.1 percent.
BHP Billiton Ltd. lost 2 percent in London after a United Nations probe into a deadly mine spill said steps that the company took to prevent harm weren’t sufficient. Remy Cointreau SA dropped 1.5 percent as its profit fell more than analysts projected.
Infineon Technologies AG jumped 10 percent after it reported better-than-expected operating income.
Source : Bloomberg