European
stocks climbed for a seventh day after a U.S. private-payrolls report
showed companies in the world™s largest economy added more workers last
month and factory orders increased in February.
Deutsche
Post AG gained 4.6 percent after Europe™s largest mail service
predicted operating profit will rise through 2020. Neste Oil Oyj rallied
5.6 percent after a U.S. Senate committee proposed extending a tax
credit for biodiesel. Deutsche Boerse AG dropped 2.2 percent after
confirming that one of its businesses has become the subject of a
criminal investigation.
The
Stoxx Europe 600 Index advanced 0.2 percent to 336.93 at the close of
trading. The equity benchmark has climbed 3.9 percent since March 24 as
better-than-forecast U.S. consumer-confidence data signaled the world™s
largest economy is recovering from weakness due to the bad winter.
A
report from ADP Research Institute showed that U.S. companies hired a
net 191,000 workers last month, up from a revised 178,000 in February.
That narrowly missed the median estimate for March of 195,000 in a
Bloomberg survey of economists. A separate release from the Commerce
Department showed factory orders climbed 1.6 percent in February. They
dropped in January. Both reports had shown weakness at the beginning of
the year as unusually harsh winter temperatures suppressed economic
activity.
Source : Bloomberg
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