European stocks climbed, resuming a rally that had stalled earlier this week, amid deal activity and earnings reports.
SABMiller Plc gained
1.9 percent after Anheuser-Busch InBev NV made a formal offer to buy it
for about $107 billion. AB InBev added 2.2 percent. Carlsberg A/S
climbed 6.2 percent after reporting profit that beat estimates and
announcing job cuts to reduce costs. Henkel AG climbed 6.7 percent after
raising its annual earnings projection.
The Stoxx Europe 600
Index added 0.7 percent at the close of trading, after rising as much as
1.2 percent. The benchmark gauge has rebounded 12 percent from a
September low, helped by European Central Bank President Mario Draghi’s
comments last month that officials will consider additional stimulus in
December.
The Stoxx 600 is
rising today, after a rally lost steam earlier this week amid worsening
data from China and the prospect of higher U.S. rates. The gauge is
heading for its best annual performance since 2013.
Among other shares
active on corporate news, TalkTalk Telecom Group Plc jumped 13 percent
after its sales beat estimates. Banca Popolare di Milano Scarl advanced
6.5 percent on better-than-forecast net income.
Source: Bloomberg
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