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European stocks climbed to a five-year high as companies from Alstom SA to ING Groep NV reported earnings that beat analysts’ estimates. U.S. index futures and Asian shares also rose.
U.K. industrial production rose 0.6 percent in September, rebounding from its biggest decline in almost a year, economists predicted before a report at 9:30 a.m in London. Separately, the National Institute of Economic and Social Research will release its estimates for U.K. economic growth in the three months through October at 3 p.m. Gross domestic product expanded 0.8 percent in the quarter ending September, the NIESR estimated.
Alstom, the French maker of power equipment and trains, jumped 5 percent to 28.43 euros. Operating profit in the period between April 1 and Sept. 30 fell to 695 million euros from 703 million euros last year. That still beat the average analyst estimate of 664 million euros. Chief Executive Officer Patrick Kron said the company will seek to sell a minority stake in Alstom Transport SA and other assets, according to a statement.
ING added 3.9 percent to 9.63 euros, rebounding from its biggest loss since August. The Dutch financial-services company reached an agreement with the European Commission to sell more than 50 percent of ING Life Japan by the end of 2015. ING also agreed to bring forward a deadline to sell all of its insurance and investment management activities in Europe by two years to the end of 2016.
Adecco rallied 5.4 percent to 69.95 Swiss francs after saying net income surged 61 percent to 190 million euros. That exceeded the 138.2 million-euro average estimate of five analysts in a survey.
FTSE 100 6,754.24 +7.40 +0.11%
CAC 40 4,291.8 +38.46 +0.90%
DAX 9,044.78 +35.67 +0.40%
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