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European stocks rose as German unemployment fell the most in two years and investors weighed China’s tighter rules to control its shadow-banking industry. U.S. futures also gained, while Asian shares slid.
The Stoxx Europe 600 Index added 0.2 percent. The benchmark measure has climbed 5.8 percent from its Dec. 13 low. Standard & Poor’s 500 Index futures increased 0.2 percent today, while the MSCI Asia Pacific Index lost 0.4 percent.
Unemployment in Germany declined the most since December 2011, data showed today. The number of people out of work in Europe’s largest economy decreased by a seasonally-adjusted 15,000 to 2.965 million, after increasing a revised 9,000 in November, the Nuremberg-based Federal Labor Agency said. Economists predicted a drop of 1,000. The adjusted jobless rate remained unchanged at 6.9 percent.
China imposed new controls on the multi-trillion-dollar shadow-banking industry, three people familiar with the matter said. The rules include a ban on transactions designed to avoid regulations, such as moving interbank loans off balance sheets to reduce reported levels of lending, said the people. Such operations are part of shadow finance, a term that describes lending outside the banking system.
Vestas Wind Systems climbed 5.4 percent to 196.20 kroner, the highest price since April 2011 for the world’s biggest wind-turbine maker. The stock rose for a 10th day, its longest rally in eight months. Vestas rose 5.5 percent yesterday as it upgraded its estimate for 2013 free cash flow.
Swedish Match fell 4.8 percent to 198 kronor. Citigroup downgraded the shares to sell from neutral, saying competitive pressures will continue in 2014. The brokerage reduced its price forecast for the shares to 193 kronor from 225 kronor.
Hugo Boss AG declined 2.4 percent after Societe Generale SA downgraded the luxury-clothing maker controlled by buyout firm Permira Advisers LLP.
FTSE 100 6,755.31 +24.58 +0.37%
CAC 40 4,240.23 +12.69 +0.30%
DAX 9,477.87 +49.87 +0.53%
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