European stocks advanced for a fifth day, with Spanish equities jumping to their highest levels since January 2010.
The Stoxx Europe 600
Index added 0.2 percent to 413.63 at the close of trading in London,
after rising as much as 0.3 percent. Gains in Telefonica SA and Banco
Santander SA pushed the IBEX 35 Index up 1 percent for one of the
biggest jumps in western-European markets. The region’s miners fell for
the first time in five days as China’s exports unexpectedly slumped the
most in more than a year, raising questions over the durability of
global demand.
The Stoxx 600 rallied
the most since January last week, surpassing an all-time high reached in
2000. Economic data beating forecasts by the most in two years and a
push by the European Central Bank to stimulate growth have sent the
gauge up 21 percent this year.
The gains propelled
the value of global equities above $70 trillion for the first time.
Benchmark stock gauges of Denmark, Portugal, Italy and Germany jumped
the most among developed markets this year, climbing more than 25
percent. The Standard & Poor’s 500 Index was among the worst
performers.
Source: Bloomberg
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