On Thursday European stocks rose to a two-year high as reports reassured investors that the global economic recovery is intact. Asian stocks and U.S. stock-index futures also advanced.
ASML Holding NV advanced 6.2% after the company raised its forecast for bookings in the fourth quarter. BG Group Plc rose to the highest in 2 1/2 years after saying it will get about 600 million barrels of oil from initial operations at Brazil’s Tupi and Guara fields. Volkswagen AG led carmakers lower as China said it may end tax incentives for buying passenger cars next year.
Technology stocks featured among the best performers, with Dutch chip equipment maker ASML jumping 6.4% after it raised its forecast for fourth-quarter bookings. The company has about 23.1% exposure to the United States. The sector was also given a boost after microchip bellwether Texas Instruments on Wednesday gave a solid outlook.
Elsewhere, German chemical company BASF and cement maker HeidelbergCement were 0.9% and 1.3% higher after Deutsche Bank both said the companies may benefit from the U.S. tax deal.
Banks which are sensitive to changes in the economic environment featured among the movers. Royal Bank of Scotland, Societe Generale and BNP Paribas rose 1.7 to 3.3%.
Asian stocks gained, driving the benchmark index to its sixth advance in seven days, as reports on better-than-estimated economic growth in Japan and employment in Australia bolstered confidence in a regional recovery.
Japan's stocks gained ground after foreign funds switched to buying financial shares from exporters as the yen regained strength, but the Nikkei backed off from a fresh seven-month high amid signs of overheating. The benchmark Nikkei ended the day up 0.5% at 10,285.88. At one point it hit a seven-month high of 10,298.25. The broader Topix index rose 0.5%.
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