European stocks rose the most in three weeks as companies from Tesco Plc to Syngenta (SYNN) AG reported financial results and as data showed American housing and industrial activity increased.
The Stoxx Europe 600 Index advanced 1.3% to 330.75. The benchmark measure slid 1 percent yesterday as Ukraine accused Russia of deploying troops inside its territory and as German investor confidence fell for a fourth month. The equity gauge has gained 0.8% this year.
National benchmark indexes rose in all western-European markets except Iceland:
In China, data showed the world’s second-largest economy posted faster-than-estimated growth in the first quarter, while industrial-output growth in March missed projections.
A U.S. report in Washington showed housing starts rebounded to a 946,000 annualized pace in March, the first increase in four months, from a revised 920,000 rate in February. That fell short of the median forecast of economists that called for 970,000. Separate data showed industrial roduction increased in March more than projected.
Suez Environnement Co. climbed 7.1%. Exane BNP Paribas raised its recommendation for Europe’s second-biggest water company to outperform, or buy, from neutral. The brokerage said the management should revisit a potential merger between Suez and Veolia Environnement SA, the largest water utility in Europe. Veolia, who rating was increased to neutral from underperform, added 4.4%.
Tesco advanced 2.7% after reporting trading profit that exceeded projections.
Syngenta gained 2.3% after posting first-quarter revenue that met estimates and confirming its full-year sales target.
GEA Group AG rallied 6.2% after agreeing to sell its heat-exchanges unit to Triton Advisers Ltd.
ASML (ASML) Holding NV tumbled the most since January 2011 after forecasting second-quarter sales below projections.
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