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European stocks climbed, extending the Stoxx Europe 600 Index’s first weekly advance in May, as Italy’s Prime Minister Mario Monti said that most European Union leaders support joint bonds for the euro area.
Spain’s central government will analyze “with all caution” requests from regional governments to help them regain access to capital markets, Deputy Prime Minister Soraya Saenz de Santamaria said today after a cabinet meeting.
Catalonia will comply with its budget program and will honor its commitments, the regional government said today.
Monti told Italian television station La7 yesterday that the majority of EU leaders at a Brussels meeting this week backed joint euro-area bonds. He added that Italy can help persuade Germany to support Europe’s “common good” as well.
National benchmark indexes climbed in 13 of the 18 western- European markets. The U.K.’s FTSE 100 added less than 0.1 percent. Germany’s DAX increased 0.4 percent and France’s CAC 40 climbed 0.3 percent. Greece’s ASE sank 3.5 percent.
Lonmin and Fresnillo retreated 1.6 percent to 729 pence and 2.2 percent to 1,317 pence, respectively. Vedanta Resources Plc declined 3.3 percent to 966.5 pence. A gauge of mining companies posted the biggest decline on the Stoxx 600.
Mobistar, Belgium’s second-biggest mobile-phone company, slid 3.4 percent to 25.45 euros and Telecom Italia SpA lost 2 percent to 69.5 euro cents.
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