European
lenders pushed stocks to a two-month high, even as they pared gains in
the final hour of trading amid a decline in miners and oil and gas
companies.
The
Stoxx Europe 600 Index added 0.1 percent to 345.72 at the close of
trading in London, after earlier jumping as much as 0.5 percent. The
benchmark index gained 2.9 percent last week as Mario Draghi said the
ECB needs to accelerate inflation and may broaden its asset-purchase
program, while China cut key interest rates for the first time since
2012. Futures on the Euro Stoxx 50 Index rose 0.5 percent at 5:04 p.m.
in London.
Banks
in the Stoxx 600 advanced 1.3 percent as a group, contributing the most
to the gain. Banco Santander SA added 2.5 percent and Societe Generale
SA rose 2.1 percent. Spains IBEX 35 Index climbed 1.2 percent for the
second-biggest increase among 18 western-European markets.
Source: Bloomberg
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