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European stocks fluctuated, heading for their best month since October 2011, as investors awaited a report on the pace of U.S. economic growth to gauge how long the Federal Reserve will continue to buy bonds.
Fed President Ben S. Bernanke has said that low inflation and high unemployment mean the central bank needs to continue buying bonds. The Fed will reveal the outcome of its two-day policy meeting after European markets close today. It will leave the benchmark interest rate at 0.25 percent, according to every economist in a survey. The central bank may begin to reduce its bond-purchase program in September, economists predicted in a separate survey.
AB InBev jumped 7.6 percent to 72.85 euros, its biggest advance in 26 months. Second-quarter organic normalized earnings before interest, taxation, depreciation and amortization rose 5.8 percent as the company sold more expensive beer in the U.S. Analysts had predicted growth of 3.7 percent for the period.
Invensys gained 2.4 percent to 502.5 pence after Schneider Electric said it will buy the company for the equivalent of 502 pence a share. Schneider, which posted first-half earnings today and reaffirmed its Ebita-margin forecast for 2013, added 4.7 percent to 60.74 euros.
Vinci lost 2 percent to 40.06 euros. Net income in the first six months of the year fell to 748 million euros and missed the 760.5 million-euro average estimate in a survey of analysts. Net income will decline less in the second half of the year, the company said in a statement.
FTSE 100 6,622.09 +51.14 +0.78%
CAC 40 3,988.15 +1.54 +0.04%
DAX 8,276.38 +5.36 +0.06%
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