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European stocks rebounded from a three-month low as earnings from Nordea Bank AB to Kone Oyj topped analyst estimates and sales of new homes in the U.S. exceeded forecasts.
National benchmark indexes gained in all of the 18 western European markets, except Greece. France’s CAC 40 (CAC) rose 2.3 percent, the U.K.’s FTSE 100 increased 0.8 percent and Germany’s DAX Index added 1 percent.
Nordea Bank climbed 3.8 percent to 56.60 kronor after saying first-quarter profit rose 4.5 percent as loan losses receded and it made more money from its lending business. Net income grew to 773 million euros from 740 million euros a year earlier. That beat the 738 million-euro average estimate of analysts.
Kone rallied 8.2 percent to 44.59 euros, the biggest jump in three years. The company reported first-quarter net income of 108.6 million euros, compared with the 94.6 million-euro average estimate.
Cove Energy Plc advanced 4.6 percent to 227 pence after agreeing to be bought by Royal Dutch Shell Plc as Europe’s largest oil company increased its bid to 1.12 billion pounds ($1.8 billion).
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