Most European stocks climbed as investors awaited reports that may show the U.S. economic recovery is gathering pace following the harsh winter
The Stoxx Europe 600 Index gained 0.2% to 336.99.
“Stabilizing growth and disinflationary pressures in recent data globally have been the signal to buy stocks,” Daniel Weston, a portfolio manager at Aimed Capital GmbH in Munich, said in an interview. “The room for continued accommodative policy remains while the inflation genie is kept in the bottle, leading investors to continue being bullish stocks.”
Deutsche Post AG added 3.6% after Europe’s largest mail service predicted operating profit will rise through 2020.
Neste Oil Oyj rallied 5.3% after a U.S. Senate committee proposed extending a tax credit for biodiesel.
Deutsche Boerse AG dropped 2.2% after confirming that one of its businesses is the subject of a criminal investigation.
SBM Offshore NV climbed 4.9 percent to 13.83 euros. The Dutch supplier of floating oil-production platforms said an internal investigation found no credible evidence of improper payments made to Brazilian government employees from 2007 through 2011. Brazil accounts for almost half of SBM’s sales.
Alcatel-Lucent SA (ALU) rose 3.3%. Natixis SA raised the network-equipment maker to buy from neutral, saying that telecommunications companies will increase their capital expenditure. Alcatel-Lucent has deals with China Mobile Ltd. and Bouygues SA.
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