European stocks advanced for the third time in four days, pushed higher by drugmakers and Greek equities.
The
Stoxx Europe 600 Index added 0.6 percent to 339.87 at the close of
trading in London, after earlier climbing as much as 1.1 percent and
falling 0.4 percent. Roche Holding AG helped send health-care companies
up 0.9 percent, and Greece™s ASE Index climbed 3.8 percent, completing
its biggest two-day rally since November.
The
broad European benchmark gauge fell 1 percent last week for a second
decline, posting its worst start to a year since 2008. It fell 3.7
percent from an almost seven-year high reached Dec. 5 through Jan. 9
amid a plunge in oil prices and Greek equities before the nation holds
an election on Jan. 25.
The
Stoxx 600 lost 1.3 percent on Jan. 9 amid a slump in Spanish and
Italian lenders. The IBEX 35 Index fell the most since September 2012
that day, closing at its lowest level since Oct. 16. At the same time,
traders bought up protection should Greece™s potential exit from the
euro trigger a domino drop in Spanish and Italian stocks.
Source: Bloomberg
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