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European stocks climbed amid an increase in mergers-and-acquisition activity and as a U.S. report showed retail sales rose more than forecast in September.
Today’s U.S data showed retail sales climbed 1.1 percent in September, beating the median economist forecast for a 0.8 percent gain. That followed a revised 1.2 percent increase in August, the Commerce Department figures showed today
National benchmark indexes gained in 15 of the 18 western European markets. The U.K.’s FTSE 100 rose 0.2 percent, France’s CAC 40 climbed 0.9 percent, while Germany’s DAX advanced 0.4 percent.
Orkla gained 3.4 percent to 46.75 kroner after the company and Norsk Hydro agreed to combine units to provide aluminum profiles, building systems and tubing in North America and Europe.
Douglas jumped 8.1 percent to 37.62 euros, the biggest increase since Jan. 12, after Advent made an offer of 38 euros per share for the German cosmetics retailer via investment vehicle Beauty Holding Three AG.
Hennes & Mauritz AB gained 2 percent to 233.8 kronor after Europe’s second-largest clothing retailer reported a 15 percent increase in total sales for September. Like-for-like sales climbed 6 percent.
Rio Tinto Group, the world’s third-largest mining company, slipped 1.6 percent to 2,973.5 pence after Goldman Sachs Group Inc. cut its 12-month estimate on copper prices by 11 percent on concern demand from China will slow.
Anglo American Plc fell 2 percent to 1,788.5 pence, while Bumi Plc tumbled 12 percent to 245.3 pence.
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