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European (SXXP) stocks advanced as better- than-estimated U.S. durable-goods orders and housing data helped offset concern euro-area lawmakers will impose losses on bank deposits in the region.
The Stoxx Europe 600 Index added 0.2 percent to 293.76 at 4:30 p.m. in London.
National benchmark indexes advanced in seven of the 18 western European markets today.
FTSE 100 6,399.37 +20.99 +0.33% CAC 40 3,748.64 +20.66 +0.55% DAX 7,879.67 +8.77 +0.11%
The Cyprus Stock Exchange remains closed for trading today and tomorrow as banks are closed, according to a statement on CSE’s website.
U.S. durable-goods orders rose in February by the most in five months, Commerce Department figures showed today. The 5.7 percent increase in bookings for goods meant to last at least three years followed a revised 3.8 percent drop in January. Economists had predicted 3.9 percent increase before the report.
Morrison advanced 3.5 percent to 276 pence after Citigroup Inc. upgraded the retailer to buy and lifted its price estimate for the shares to 325 pence from 280 pence.
Celesio added 4 percent to 14.50 euros after the Germany drug wholesaler said 2012 earnings exceeded its own target.
Bellway Plc rose 2.9 percent to 1,227 pence. The U.K. housebuilder said net income increased 51 percent in the six months ended Jan. 31 to 46 million pounds ($70 million) from a year earlier.
SBM Offshore NV rallied 3.6 percent to 13.34 euros. Brazil’s Petroleo Brasileiro SA awarded letters of intent for the lease of two floating production, storage and offloading units to the Dutch company. The projects will have a total value of $3.5 billion and will be operated by SBM’s joint venture with Queiroz Galvao Oleo e Gas SA and other partners.
EDF SA (EDF) advanced 2.4 percent to 15.31 euros after Morgan Stanley upgraded the shares to overweight, the equivalent of a buy recommendation, from equal weight. The brokerage said the shares are trading at a deep discount.
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