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European stocks advanced, following their largest three-day slump in seven months, as mining companies climbed and Siemens AG posted profit that beat estimates. U.S. futures also gained, while Asian shares fell.
In the U.K., the Office for National Statistics said gross domestic product expanded 0.7 percent in the final three months of 2013 in its initial estimate. That completes the first full year since 2007 when the economy expanded in every quarter.
In the U.S., a report at 8:30 a.m. in Washington will probably show orders of durable goods increased 1.8 percent in December, economists predicted. They rose 3.4 percent in November. A separate release at 10 a.m. may show the Conference Board’s consumer-confidence index slipped in January to 78 from 78.1 in December, according to the median economist estimate.
A gauge of mining companies rebounded from its lowest level in almost two weeks, dragging the Stoxx 600 higher. Nomura Holdings Inc. raised its rating on the industry to neutral from bearish. Analyst Tyler Broda said companies may reduce costs by more than analysts predict. BHP Billiton and Rio Tinto, which Nomura named as its top picks, rose 1.4 percent to 1,805 pence and 2.5 percent to 3,219 pence, respectively.
Siemens rose 0.8 percent to 98.20 euros as Europe’s largest engineering company said income from continuing operations in the first quarter of its financial year jumped 21 percent to 1.39 billion euros ($1.9 billion). The average estimate of analysts surveyed by Bloomberg had called for 1.33 billion euros. The profit ">Software AG rallied 6.5 percent to 27.33 euros after the Germany company forecast that earnings before interest and taxes may increase by as much as 10 percent in 2014 from last year’s 260.7 million euros.
FTSE 100 6,578.28 +27.62 +0.42%
CAC 40 4,178.27 +33.71 +0.81%
DAX 9,415.08 +65.86 +0.70%
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