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European stocks climbed, rebounding from the biggest three-day selloff since July, as German industrial production increased more than forecast and investors awaited the start of U.S. earnings season.
The Stoxx Europe 600 Index (SXXP) added 0.2 percent to 287.64 at the close of trading.
National benchmark indexes climbed in 13 of 18 markets in western Europe today.
FTSE 100 6,276.94 +27.16 +0.43% CAC 40 3,666.78 +3.30 +0.09% DAX 7,662.64 +3.89 +0.05%
Lundin rose 3.6 percent to 145.60 kronor, after saying the Luno II well, in which it owns a 40 percent stake, discovered oil-bearing sands with a 40 meter column of “good quality” crude. Pressure data showed a separate petroleum system to the nearby Edvard Grieg and Johan Sverdrup fields.
Premier Oil Plc (PMO), which has a 30 percent holding in Luno II, climbed 6.1 percent to 385 pence in London while Statoil ASA, which holds the remaining 30 percent, advanced 1.2 percent to 139.20 kroner in Oslo.
Cairn Energy Plc (CNE) gained 3.3 percent to 282 pence. Greenlight Capital Inc., the hedge fund founded by David Einhorn, raised its holdings in the oil explorer to 3 percent of voting rights, according to statement released on April 5.
United Internet AG rallied 4.3 percent to 19.36 euros after Morgan Stanley said the German broadband provider’s earnings will probably gain and its dividend may double by 2015.
Pirelli & C. SpA dropped 6.3 percent to 7.70 euros in Milan, the largest decline in almost 11 months. The tiremaker delayed a 2013-2017 business-plan presentation to November from May to help “provide better viability” on the economy. Pirelli said Europe’s debt crisis is having a “clear impact” on demand.
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