FRANKFURT: European stocks rose for a fourth week as the region’s leaders agreed to address flaws in their bailout programs to ease the sovereign-debt crisis.
CRH Plc rallied 12 percent, leading a gauge of construction companies to the biggest gain in six months. Colruyt NV jumped 16% as Belgium's biggest discount food retailer reported a surprise increase in profit.
Barclays Plc slumped 19%t after paying a record fine to settle claims it sought to rig the London and euro interbank offered rates.
The Stoxx Europe 600 Index climbed 1.9% to 251.17 this past week, extending the longest stretch of gains since January, after policy makers eased repayment rules for Spanish banks, relaxed conditions for possible aid to Italy.
“The results were as good as we could have expected from the summit,” said Derry Pickford, who helps oversee $1.7 billion at Ashburton Ltd. in Jersey.
National benchmark indexes climbed in all 18 western European markets this week. The U.K.’s FTSE 100 increased 1%, France's CAC 40 rose 3.4% and Germany's DAX added 2.4%. Norway’s OBX surged 5.9% for the biggest gain this year. (Bloomberg/tw)