European
stocks advanced, extending a weekly gain, as a measure of euro-area
economic confidence rose in March more than forecast and Italian banks
rallied following a government-debt sale.Intesa Sanpaolo SpA added 3.5 percent as it forecast dividend payouts of about 10 billion euros ($13.7 billion) through 2017. Pirelli & C. SpA increased 3.2 percent after reporting 2013 earnings that surpassed analysts™ predictions. Resolution Ltd. and Aviva Plc led insurers lower after the U.K. financial regulator said it plans to conduct an inquiry into possibly unfair charges levied on life-insurance policies.
The Stoxx Europe 600 Index added 0.7 percent to 333.76 at the close of trading, extending this week™s advance to 1.8 percent. The benchmark gauge has still dropped 1.3 percent so far in March amid tension between Russia and the West over Ukraine™s Crimea region.
A gauge of economic confidence in the euro area rose to 102.4 in March from 101.2 a month earlier, beating analyst forecasts for a rise to 101.4. Separate data showed a measure of the region™s industrial confidence stood at minus 3.3 this month, compared with estimates for minus 3.5. In the U.S., consumer spending rose by the most in three months in February, as incomes increased.
Copy Source : Bloomberg
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