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European stocks rose, halting a two-day drop, as investors awaited interest-rate decisions from the European Central Bank and the Bank of England, and Portugal’s political leaders sought to hold the coalition government together. U.S. index futures and Asian shares climbed.
The ECB will leave its benchmark interest rate unchanged at a record low of 0.5 percent today, according to 61 of 62 forecasts in a Bloomberg survey of economists. The central bank announces the decision at 1:45 p.m. in Frankfurt and President Mario Draghi holds a press conference 45 minutes later.
The Bank of England will hold its bond-purchase target at 375 billion pounds ($572 billion) and its key rate at 0.5 percent, separate surveys show. The central bank will announce its decision at noon in London.
Paulo Portas, whose resignation on July 2 threatened to bring down the Portuguese government, will meet with Prime Minister Pedro Passos Coelho in an attempt to hold the coalition together. An official in CDS, the smaller of the two parties in the government, said that Portas will seek a guarantee that his group can retain an influence on policy.
Banco Espirito Santo SA, Portugal biggest bank by market value, rallied 7.7 percent to 58.7 euro cents. Banco Comercial surged 7.4 percent to 8.7 euro cents. Portugal’s PSI 20 Index jumped 3 percent, paring its 5.3 percent tumble yesterday.
Taylor Wimpey added 4.4 percent to 101.2 pence. The U.K.’s second-largest housebuilder by market value reported an operating-profit margin in its home market of more than 13 percent, compared with 11.2 percent a year earlier. It will publish first-half results on July 31.
Persimmon Plc, the country’s largest homebuilder, added 2.3 percent to 1,241 pence. Barratt Developments Plc rose 2.4 percent to 325.5 pence.
FTSE 100 6,297.1 +67.23 +1.08%
CAC 40 3,730.87 +28.86 +0.78%
DAX 7,874.22 +44.90 +0.57%
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