EUROPEAN stocks rose

European stocks rose for a fifth day. This is  their longest winning streak in almost three months, as companies from Royal KPN NV to Vivendi SA gained on plans to sell assets.

 

KPN jumped to its high price in more than three months after agreeing to sell its German mobile-phone business to Telefonica SA.

 

Vivendi climbed the most in a month. Vivendi (VIV) advanced 3.2%. The media and telecommunications conglomerate said it has entered exclusive talks with Etisalat to sell a 53% stake in the Moroccan phone company for 4.2 billion euros.

 

Swatch advanced 3.4%. The biggest maker of Swiss watches said it expects a strong second half after first-half profit rose. Net income increased 6.1% to 768 million Swiss francs ($818 million).

 

Glencore Xstrata Plc rose 4%. A gauge of commodity producers posted the best performance of the 19 industry groups on the Stoxx 600. China’s Premier Li Keqiang said the world’s second-biggest economy will grow by a minimum of 7%.

 

STMicroelectronics NV (STM) slid 6.4%. Intel Corp.’s biggest competitor in Europe reported a seventh consecutive quarter of losses. It lost $152 million in the second quarter, according to a statement. Revenue slipped 4.8% to $2.05 billion.

 

The Stoxx Europe 600 Index added 0.3% to 301.05. Stocks rose for a fourth day yesterday as companies from UBS AG to Royal Philips Electronics NV reported increased profit.

 

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