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European stocks rose, ending a five-day losing streak, before a U.S. jobs report that will help investors assess when the Federal Reserve will reduce its monthly bond purchases. U.S. stock-index futures and Asian shares gained.
Investors are seeking to gauge when the Fed will reduce stimulus amid signs of an improving U.S. economy. Reports yesterday showed the annualized growth rate in the third quarter rose the most since the first three months of 2012, while jobless claims unexpectedly declined last week.
The Stoxx 600 retreated 3.3 percent in the past five days, posting its longest losing streak since June. The index fell 0.9 percent yesterday as European Central Bank President Mario Draghi said that financial-market developments and low domestic demand may hurt the euro area’s economy.
Berkeley Group jumped 8.6 percent to 2,477 pence for the biggest rally since June 2011. The U.K. housebuilder focused on London and the southeast said net income increased to 131 million pounds ($214 million) in the six months through October from 107.5 million pounds a year earlier. Berkeley declared an interim dividend of 90 pence a share.
A gauge of housebuilders in the FTSE 350 Index climbed 0.4 percent, a second day of gains. Taylor Wimpey Plc rose 2.7 percent to 108.9 pence, and Persimmon Plc, U.K.’s largest housebuilder, advanced 2.6 percent to 1,184 pence.
LSE rose 3 percent to 1,630 pence. Bank of America raised its rating on the operator of Europe’s oldest independent bourse to a buy from neutral. The brokerage cited increasing evidence that LCH.Clearnet Group Ltd. its share of clearing and boosted its price estimate to 1,870 pence from 1,700 pence.
Givaudan lost 3.5 percent to 1,193 Swiss francs. Nestle, the world’s largest food company, plans to sell all of its 926,562 Givaudan shares at yesterday’s closing price to institutional investors. The Nespresso coffee maker held a 10 percent stake as of Dec. 31, making it Givaudan’s second-biggest owner, according to data compiled by Bloomberg. Nestle rose 1.4 percent to 65.40 francs.
FTSE 100 6,522.9 +24.57 +0.38%
CAC 40 4,107.91 +8.00 +0.20%
DAX 9,130.62 +45.67 +0.50%
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