ZURICH: European stocks advanced, rebounding from yesterday’s largest slide in more than a week, as investors awaited the monthly U.S. jobs and unemployment report. U.S. index futures climbed, while Asian shares fell.
Allianz SE and Axa SA gained 4.1% and 3.4%, respectively, after Europe’s largest insurers reported profit that beat analysts’ estimates. Banks rose as Intesa Sanpaolo SpA (ISP) and Natixis SA posted better-than-projected quarterly earnings.
Siemens AG gained 4.6% after Europe’s biggest engineering company said it will repurchase as much as 3 billion euros (US$3.7 billion) in stock by the end of the year.
The Stoxx Europe 600 Index climbed 1.6 percent to 263.4 at 12:08 p.m. in London. The gauge is heading toward a 1.4 percent climb this week, even as the European Central Bank and the Federal Reserve failed to deliver immediate measures to stimulate a slowing global economy.
Standard & Poor’s 500 Index futures expiring in September rose 1 percent today, while the MSCI Asia Pacific Index declined 0.8%.
“Sentiment is mixed as Draghi’s comments yesterday didn’t help investors to gauge the market’s direction,” said Trung-Tin Nguyen, a hedge-fund manager at TTN AG in Zurich. (Bloomberg/tw)
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