European stocks climbed for a sixth day amid better-than-expected U.S. economic-growth data.
The Stoxx Europe 600 Index rose 0.6 percent to 344.06 at the close of trading. It briefly pared gains after a report showed that sales of new U.S. homes unexpectedly declined in November. The European stocks gauge posted its biggest six-day jump in three years, rising 6.4 percent.
Commerce Department data showed the world™s biggest economy grew in the third quarter more than forecast, expanding at the fastest pace in more than a decade. Gross domestic product increased at a 5 percent annual rate, up from a previously estimated 3.9 percent, according to revised figures released today in Washington. The Dow Jones Industrial Average rose above 18,000 for the first time after the GDP report.
Benchmark stock indexes of Portugal, France and Italy posted some of the biggest gains, rallying more than 1 percent. The volume of Stoxx 600 shares changing hands was 38 percent lower than the 30-day average, data compiled by Bloomberg show.