EUROPEAN stocks continue to rise

European stocks still rose after posting the biggest weekly gain this year. 

Polymetal International Plc and Randgold Resources Ltd. led the gains as basic-resources companies posted the biggest jump among 19 industry groups. Their shares rose 3.7% and 2.9% respectively. 

The Stoxx Europe 600 Index advanced 0.5% to 334.86. 

U.S. markets closed for President’s Day and it promises to be a day of fairly low volatility.” 

SGL Carbon SE jumped 7.5% to 29.28 euros. Handelsblatt reported that the maker of carbon materials and Bayerische Motoren Werke AG, which owns a 15.7% stake in the company, are investing more than 100 million euros to double carbon-fiber production to 6,000 tons a year. BMW fell 0.4%. 

MorphoSys AG rose 2.9%. The German biotechnology company said it received a milestone payment from Novartis in connection with a clinical trial application and projected initiation of a Phase 1 clinical trial. 

Bouygues declined 0.6%. The French construction and telecommunications company said it will take the writedown in the fourth quarter, adding it won’t impact its cash position or operating performance. Paris-based Bouygues will report earnings on Feb. 26.

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