EUROPEAN stocks rose

European stocks gained as companies posted better-than-estimated earnings and German investor confidence climbed. 

EON SE rallied the most in three months after company posted first-half profit that exceeded analysts’ projections. 

GAM Holding jumped 7.8%, the largest gain since January 2012. The asset manager that split from Julius Baer Group Ltd. almost four years ago said first-half profit more than tripled after fee and commission income increased. 

Deutsche Wohnen AG climbed 2.6%, the highest in more than two months. The company said first-half profit jumped 85% as acquisitions increased rental income. The company raised its earnings forecast for 2013. 

K+S declined 2.8%. Second-quarter earnings before interest, taxes and some hedging transactions dropped 26% to 162.6 million euros, missing the average analyst projection of 175.2 million euros. Sales fell 12% to 874.5 million euros, also missing estimates. 

Europe’s largest potash maker said it sees “significant uncertainty” on future prices in the potash fertilizer market. Shares of the Kassel, Germany-based company have dropped 47% this year after russian Uralkali said it would exit a cartel that held up prices for the crop nutrient.

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