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European stocks climbed, with Germany's DAX Index rising above 11,000 for the first time after a report
The DAX climbed as much as 0.9 percent to 11,013.85, before paring gains to 0.5 percent. The benchmark gauge is up 12 percent this year, making Germany the best performer among 24 developed markets. A report showed German gross domestic product surged 0.7 percent in the fourth quarter, a faster pace than the previous three months. The euro region's economy also gathered momentum.
Greece's ASE Index rallied 5.7 percent, heading for its best week since November. National Bank of Greece SA and Eurobank Ergasias SA jumped, pushing their weekly gains up more than 33 percent. Benchmark measures in Italy, Spain and Portugal advanced more than 1 percent.
Prime Minister Alexis Tsipras said yesterday that political will exists in the euro region for a deal. His government is seeking a six-month bridge agreement with creditors after its current aid program expires this month. German Chancellor Angela Merkel said her first meeting with Tsipras was friendly. Greek negotiators and officials from euro-area creditors plan to meet today.
Among stocks that moved on corporate news, L'Oreal SA rose 1.3 percent after the cosmetics maker reported faster-than-estimated quarterly revenue growth and expressed confidence for 2015.
Anglo American Plc gained 1.7 percent after posting full-year earnings that beat analysts' projections and writing down assets by $3.9 billion.
Seadrill Ltd. slumped 8.2 percent after the rig operator said it's removing $1.1 billion worth of contracts with Petroleo Brasileiro SA from its order book.
Mediaset SpA declined 4.8 percent after Silvio Berlusconi's Fininvest SpA sold a 7.8 percent stake in the broadcaster.
FTSE 100 6,868.42 +40.31 +0.59%
CAC 40 4,763.92 +37.72 +0.80%
DAX 10,986.18 +66.53 +0.61%
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