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European stocks climbed, following their longest stretch of monthly gains in six years, as two measures of Chinese manufacturing increased and Greece offered to spend 10 billion euros ($13 billion) buying back bonds.
China’s official Purchasing Managers’ Index, a gauge of the manufacturing industry, rose to 50.6 in November, the highest reading in seven months, the National Bureau of Statistics and China Federation of Logistics and Purchasing said on Dec. 1. A reading above 50 indicates expansion.
A separate survey by HSBC Holdings Plc and Markit Economics, which focuses on smaller businesses, also showed that activity increased last month.
Chancellor Angela Merkel opened the possibility that Germany will ultimately accept a write-off of Greek debt. Policy makers will this week attempt to engineer a buyback that’s crucial for Greece to receive more funding.
Euro-area finance ministers meet in Brussels today as Greece starts repurchase debt. The offer period ends on Dec. 7, though it could re-open for one or two days, according to Kathimerini newspaper. Euro ministers will evaluate the results of the measure on Dec. 10, it reported.
CWC surged 6.9 percent to 37.1 pence for the biggest rally on the Stoxx 600. Bahrain Telecommunications, the state- controlled company known as Batelco (BATELCO), agreed to buy CWC’s Monaco and Islands unit for $680 million.
Colruyt lost 2.5 percent to 34.49 euros after posting first-half Ebit of 230.8 million euros. The average analyst estimate had called for earnings of 236.9 million euros. Exane BNP cut its share-price forecast by 3 percent to 31 euros.
Schroders Plc gained 3.4 percent to 1,650 pence. The shares of the asset management company were raised to buy from neutral at Bank of America Corp.
FTSE 100 5,883.35 +16.53 +0.28%
CAC 40 3,580.76 +23.48 +0.66%
DAX 7,438.98 +33.48 +0.45%
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