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European stocks rose to near a five-year high as HSBC Holdings Plc reported increased profit and investors awaited this week’s interest-rate decision from the European Central Bank. U.S. index futures gained, while Asian shares declined.
The Stoxx Europe 600 Index gained 0.3 percent to 322.41 at 10:21 a.m. in London, extending this year’s rally to 15 percent.
HSBC rose 2 percent to 700.7 pence as third-quarter pretax profit advanced to $4.53 billion from $3.48 billion. Costs as a proportion of revenue, excluding gains and losses in the value of the bank’s own debt, fell to 61 percent from 64 percent.
PostNL climbed 6.9 percent to 4.13 euros in Amsterdam, the highest price since April 2012. The company said it has cut costs and boosted its forecast for full-year underlying cash operating profit to 130 million euros ($175 million) to 160 million euros, compared with previous guidance of 50 million euros to 90 million euros.
Ryanair tumbled 11 percent to 5.42 euros, the lowest level since January. Europe’s biggest discount airline said net income for the year ended March 31 will be in the range of 500 million euros to 520 million euros. The Dublin-based carrier had previously predicted profit of as little as 570 million euros and had cautioned that it may fall short of that number. Earnings last year were 569 million euros.
FTSE 100 6,764.48 +29.74 +0.44%
CAC 40 4,286.01 +12.82 +0.30%
DAX 9,039.03 +31.20 +0.35%
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