Europe stocks rise on U.S. budget deal progress

LONDON, MarketWatch (15/10) — European stock markets moved firmly higher on Tuesday as the U.S. fiscal standoff took a new turn with a bill proposal from Republican lawmakers and as Germany’s DAX 30 index flirted with an all-time high after upbeat data.

The Stoxx Europe 600 index rallied 0.8% to 314.68, on track for the highest closing level in almost a month.

Among notable movers in the index, shares of Rio Tinto gained 3.7% after the heavyweight miner said its iron-ore output rose to a new quarterly record.

Shares of Burberry Group lost 5.9% after Apple Inc. named the luxury-goods firm’s Chief Executive Angela Ahrendts as senior vice president of retail and online stores.

http://www.marketwatch.com/story/deal-progress-in-us-helps-lift-markets-in-europe-2013-10-15