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Europeans stocks advanced, paring their biggest weekly selloff since November, as the region’s commodity producers rebounded from a 3 1/2-year low. U.S. index futures and Asian shares also climbed.
The Stoxx Europe 600 Index (SXXP) added 0.5 percent to 285.09 at 8:35 a.m. in London. The gauge has slipped 2.6 percent so far this week, its biggest drop in five months, as commodities fell amid worst-than-forecast economic data from China and the U.S.
BHP Billiton added 1.6 percent to 1,800.5 pence as the world’s largest commodity producer dragged a gauge of mining companies from its lowest level since July 2009.
Anglo American gained 2.2 percent to 1,597 pence after reporting that iron ore, coal and copper output increased in the first quarter.
L’Oreal advanced 2.5 percent to 124.20 euros after the world’s largest cosmetics maker reported a 5.1 percent increase in first-quarter revenue to 5.93 billion euros ($7.8 billion) as demand for luxury brands helped counter weakness in professional products. The average of six estimates compiled had called for sales of 5.85 billion euros.
LVMH Moet Hennessy Louis Vuitton (MC) SA rose 0.7 percent to 121.65 euros after Goldman Sachs Group Inc. added the shares to its conviction buy list, saying their underperformance presented a “compelling opportunity.” The company reported on April 15 the slowest growth in sales of fashion and leather products since 2009.
At that moment:
FTSE 100 6,279.05 +35.38 +0.57%
CAC 40 3,641.2 +41.84 +1.16%
DAX 7,509.32 +35.59 +0.48%
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