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European stocks climbed to the highest level in more than 4 1/2 years as U.S. payrolls rose more than forecast, sending the jobless rate in the world’s biggest economy to a four-year low.
The Stoxx Europe 600 Index (SXXP) added 0.8 percent to 295.38, the highest level since June 2008.
U.S. payrolls increased more than forecast in February, a Labor Department report showed. An additional 236,000 workers were hired last month, exceeding the 165,000 median forecast of economists. The jobless rate unexpectedly fell to 7.7 percent, the lowest since December 2008.
National benchmark indexes climbed in all 18 western European markets.
FTSE 100 6,483.58 +44.42 +0.69% CAC 40 3,840.15 +46.37 +1.22% DAX 7,986.47 +46.70 +0.59%
Fugro (FUR) jumped 15 percent to 43.03 euros, the most since March 2009, after reporting full-year net income of 292 million euros ($382 million), beating the average analyst estimate of 282 million euros.
Lagardere added 5 percent to 28.86 euros after France’s largest publisher posted 2012 net income of 89 million euros, compared with a loss of 707 million euros a year earlier.
Credit Suisse Group AG (CSGN) advanced 3.9 percent to 25.98 Swiss francs after UBS AG raised its recommendation on Switzerland’s second-biggest bank shares to buy from neutral, citing its “solid” capital ratios and dividend outlook.
DNB ASA climbed 4.5 percent to 92.50 kroner, its highest price since at least 1992, after Norway’s largest bank said it will raise lending rates by as much as 0.3 percent because of stricter government regulation.
Clariant slipped 35 centimes to 14.32 francs after Nomura lowered its recommendation on the shares to reduce from buy.
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