Europes Stoxx 600 Index Approaches 5-Year High on M&A, Growth
European stocks rose, with the Dow Jones Stoxx 600 Index approaching a five-year high, on speculation takeovers will increase and the U.S. economy will fuel earnings growth.
Endesa SA paced a rally by power producers after E.ON AG boosted its bid for the company to $47.1 billion and Actividades de Construccion & Servicios SA paid $2.7 billion for a stake in Iberdrola SA. BHP Billiton and Nokia Oyj led exporters higher.
The Stoxx 600 climbed 0.6 percent to 341.41 at 1:14 p.m. in London, 2.4 points from a five-year high reached on May 9. The Stoxx 50 and the Euro Stoxx 50, a measure for the 12 nations sharing the euro, both rose 0.5 percent.
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Europes Stoxx 50 Index Erases Gain; Vodafone and SAP Decline
Europes Dow Jones Stoxx 50 Index erased earlier gains as Vodafone Group Plc and SAP AG declined.
The Stoxx 50 retreated 0.2 percent as of 3:22 p.m. in London, after rising as much as 0.7 percent. The Stoxx 600 added less than 0.1 percent to 316.90, and the Euro Stoxx 50, an index for the 12 nations using the euro, added 0.1 percent.
Vodafone, the worlds largest mobile phone company, lost 2 percent to 111.75 pence. SAP, the largest maker of business- management software, fell 1.3 percent to 149.48 euros.
Europe's Stoxx 600 Rises to 4-Year High; Siemens, Clariant Gain
Europe's Dow Jones Stoxx 600 Index rose to a four-year high, helped by falling oil prices. Siemens AG, Germany's biggest engineering company, and Clariant AG, the world's second-largest specialty chemical maker, led gains.
The pan-European stocks measure added 0.3 percent to 310.54, its highest since Aug. 8, 2001. It has jumped 24 percent in 2005, the most in six years.
``The outlook for European stocks is as positive as it was a year ago,'' said Alexandra Morris, who manages a European stocks fund at Odin Forvaltning AS in Oslo. Odin
Europe's Stoxx 600 Climbs to 4 1/2 Year High, Led by Volkswagen a
Automakers set the pace for gains among European stocks as Volkswagen AG said it would cut jobs and close plants to stem losses. The Dow Jones Stoxx 600 Index climbed to a 4 1/2-year high.
The announcement from Volkswagen, the region's largest carmaker, followed Renault SA's presentation last week of a plan to double profit by introducing new models.
``Carmakers are finally biting the bullet,'' said Michael Fraikin, a fund manager at Invesco Asset Management in Frankfurt, which oversees $7 billion. ``Corporate restructuring is good news. This is
Europe's Stoxx 600 Nears 4-Year High; BHP, Tate & Lyle Advance
Nov. 25 (Bloomberg) -- European stocks gained, sending the Dow Jones Stoxx 600 Index near a four-year high. BHP Billiton and Anglo American Plc advanced amid rising gold and copper prices.
``Favorable commodities and metals prices are having a strong impact on mining companies,'' said Colin McLean, managing director of SVM Asset Management in Edinburgh with $1.9 billion, about 3 percent of which is in mining stocks. ``Metals prices will remain high so I think this is part of a much longer upwards cycle.''
Tate & Lyle Plc led gains
Europe: Hopes for spending invigorate bourses
European stocks rose Thursday after profit at Ericssons mobile phone venture tripled in the first quarter and Carrefours sales increased, reviving confidence that consumer spending would underpin earnings growth.
Growth seems to be picking up, said Dirk Thiels, head of equity funds at KBC Asset Management in Brussels. We are somewhat more optimistic on European shares.
The Dow Jones Stoxx 600 index added 1.28 points to 334.36. The Stoxx 50 gained 12.69 to 3,518.66 and the Euro Stoxx 50, an index for the 12 countries using the euro, rose 3 points to
