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European stocks rose the most in six weeks as companies from Tesco Plc to Syngenta (SYNN) AG reported financial results and as data showed American housing and industrial activity increased.
The Stoxx Europe 600 Index advanced 1.3 percent to 330.82 at the close of trading. The benchmark measure slid 1 percent yesterday as Ukraine accused Russia of deploying troops inside its territory and as German investor confidence fell for a fourth month. The equity gauge has gained 0.8 percent this year.
National benchmark indexes rose in all western-European markets except Iceland. The U.K.’s FTSE 100 increased 0.7 percent, France’s CAC 40 climbed 1.4 percent and Germany’s DAX rallied 1.6 percent.
A U.S. report in Washington showed housing starts rebounded to a 946,000 annualized pace in March, the first increase in four months, from a revised 920,000 rate in February. That fell short of the median forecast of economists surveyed by Bloomberg that called for 970,000. Separate data showed industrial production increased in March more than projected.
Tesco climbed 2.6 percent to 293.8 pence. The U.K.’s largest retailer reported group trading profit of 3.32 billion pounds ($5.6 billion) in the year through Feb. 22, exceeding the 3.23 billion pounds projected by analysts.
Syngenta gained 2.3 percent to 344.20 Swiss francs, its highest price since Jan. 23. The world’s largest maker of crop chemicals said quarterly sales rose 5 percent to $4.68 billion, in line analysts’ estimates. Syngenta also confirmed its full-year sales target.
ASML declined 5.3 percent to 58.50 euros. Revenue this quarter will be about 1.6 billion euros, Europe’s largest semiconductor-equipment supplier said. Analysts predict 1.7 billion euros, the average of projections compiled by Bloomberg.
Credit Suisse Group AG lost 1.5 percent to 27.42 francs. The second-biggest Swiss bank said lower investment-bank profit led to a 34 percent drop in first-quarter net income to 859 million francs ($974 million). That missed the 1.09 billion-franc average estimate in a Bloomberg survey of analysts.
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