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European stocks rose to the highest in eight weeks as investors bet central banks will add to measures unveiled by the region’s governments to contain the sovereign-debt crisis and data from China and Japan fueled optimism Asia will drive global growth.
In China, the government’s Purchasing Managers’ Index fell to 50.2 in June from 50.4 in May, the Beijing-based National Bureau of Statistics and China Federation of Logistics and Purchasing reported yesterday. That beat the 49.9 median estimate in survey of 24 economists.
A separate PMI, compiled by HSBC Holdings Plc and Market Economics, posted a final reading of 48.2 in June compared with 48.4 in May, according to figures released today.
In Japan, large manufacturers became less pessimistic as declines in commodity prices aided profitability, boosting the outlook for the world’s third-biggest economy.
The quarterly Tankan index of sentiment was minus 1 in June from minus 4 in March, the Bank of Japan said today in Tokyo.
National benchmark indexes advanced in all of the 18 western European markets except Iceland. France’s CAC 40 climbed 1 percent and the U.K.’s FTSE 100 added 1.1 percent. Germany’s DAX increased 1.1 percent.
Invensys, which makes software that runs the London Underground trains, gained 1.7 percent to 226.5 pence. China South Locomotive is in the early stages of planning a possible 2 billion-pound ($3.14 billion) takeover bid for the company, the Sunday Times reported, without saying where it got the information.
Aviva advanced 3.7 percent to 282.6 pence. John McFarlane is taking over the position of chairman from Colin M. Sharman, who is retiring, the company said.
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