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Asian stocks advanced, with the region’s benchmark index set for its highest close since May, on speculation central banks in the U.S. and China will ease monetary policy amid signs growth is slowing.Nikkei 225 9,178.12 +46.38 +0.51%
Jiangxi Copper Co., the mainland’s biggest producer of the metal, climbed 3.2% in Hong Kong after the People’s Bank of China left the door open to more interest-rate cuts. Sinopharm Group Co. jumped 7.1% after first-half profit rose 22% at the nation’s No. 1 pharmaceuticals distributor. QR National Ltd. added 2.3% after Australia’s largest coal-train operator beat profit estimates.
European stocks dropped for a second day as German Finance Minister Wolfgang Schaeuble damped optimism that Greece will get more time to cut its debt and as bond yields climbed in Spain.
Banco Bilbao Vizcaya Argentaria SA (BBVA) slid 1.8% as lenders retreated across Europe. Royal Ahold NV lost 3.6% after the retailer reported earnings that missed some analysts’ estimates. Petropavlovsk Plc (POG) tumbled 16% to 394 pence, its biggest slide since 2008, after reporting a 90% drop in first- half net income to $11 million as interest payments and depreciation costs dragged down earnings.
The Stoxx Europe 600 Index (SXXP) retreated 0.6% to 267.69 at the close.
Stocks fell as Germany’s Schaeuble said that allowing Greece more time to meet its debt obligations would not solve the country’s problems and would increase costs for creditors.
National benchmark indexes declined in 15 out of 18 western-European markets.
FTSE 100 +2.40 +0.04% CAC 40 3,432.56 -29.09 -0.84% DAX 6,949.57 -68.18 -0.97%
BBVA retreated 1.8% to 5.71 euros. Bankia SA (BKIA) tumbled 2.1% to 1.33 euros.
Ahold fell 3.6% to 10.07 euros after the Dutch owner of Stop & Shop grocery stores reported second-quarter earnings before interest and taxes of 326 million euros ($410 million), 4.7% below Oddo & Cie’s estimate of 342 million euros.
European Aeronautic, Defence & Space Co., the parent company of Airbus SAS, lost 2.4% to 29.92 euros after Qantas Airways Ltd. (QAN) canceled an order for rival Boeing Co.
Anglo American Plc (AAL) climbed 1.7% to 1,941.5 pence after the company reached an agreement with Codelco.
Antofagasta Plc (ANTO) climbed with copper, rising 2.9% to 1,152 pence.
Xstrata Plc (XTA) increased 1.1% to 926.6 pence and Vedanta Resources Plc (VED) gained 1% to 940.5 pence.
Heineken NV (HEIA) advanced 1.8% to 44.79 euros after Bank of America Corp. upgraded the Dutch brewer to buy from neutral.
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