EUROPEAN stocks rose

European stocks advanced as investors awaited the Federal Reserve’s decision on reducing its monthly bond purchases. 

The Stoxx Europe 600 Index gained 0.3% after yesterday falling from its highest level since June 2008. The gauge has rallied 12% so far in 2013. 

PSA Peugeot (UG) Citroen climbed as, according to rumours, it may sell a stake to a Chinese automaker. 

HeidelbergCement AG added 2% after Goldman Sachs Group Inc. recommended the stock. 

Lanxess AG slipped 2.4%. The synthetic-rubber maker said it will cut 1,000 jobs and curb management bonuses as part of a plan to save about 100 million euros annually from 2015. 

Citigroup Inc. said the proposal will put additional pressure on the company’s cash flow in the short term. Goldman Sachs Group Inc. said investors may sell the stock in the absence of a more significant plan. Lanxess may lower its dividend from last year’s 1 euro per share. 

Alstom SA (ALO), a French maker of power equipment and trains, declined 1.6%. The company predicts weaker growth than it did 12 or 18 months ago.

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