European stocks advanced for a fifth day, with Spanish equities jumping to their highest levels since January 2010.

The Stoxx Europe 600 Index added 0.2 percent to 413.63 at the close of trading in London, after rising as much as 0.3 percent. Gains in Telefonica SA and Banco Santander SA pushed the IBEX 35 Index up 1 percent for one of the biggest jumps in western-European markets. The region’s miners fell for the first time in five days as China’s exports unexpectedly slumped the most in more than a year, raising questions over the durability of global demand.

The Stoxx 600 rallied the most since January last week, surpassing an all-time high reached in 2000. Economic data beating forecasts by the most in two years and a push by the European Central Bank to stimulate growth have sent the gauge up 21 percent this year.

The gains propelled the value of global equities above $70 trillion for the first time. Benchmark stock gauges of Denmark, Portugal, Italy and Germany jumped the most among developed markets this year, climbing more than 25 percent. The Standard & Poor’s 500 Index was among the worst performers.

Source: Bloomberg