European stocks climbed, with the benchmark index heading for its ninth straight monthly gain, as European Central Bank President Mario Draghi and Federal Reserve Chairman Ben S. Bernanke signaled they would maintain monetary support measures.
Bayer AG (BAYN) increased to the highest price in more than four weeks after saying sales will rise 4 percent to 5 percent this year. Telefonica (TEF) SA added 1.4 percent as Spain’s biggest phone company reported fourth-quarter earnings that beat analysts’ estimates. Royal Bank of Scotland Plc slid to its lowest price this year after posting a wider full-year loss.
The Stoxx Europe 600 Index gained 0.7 percent to 289.04 at 3:59 p.m. in London, extending its advance this month to 0.7 percent, for its longest monthly winning streak since 1997. The benchmark has risen 3.4 percent this year as U.S. lawmakers agreed on a budget avoiding automatic fiscal changes that had threatened to push the world’s biggest economy into recession.
“Thanks to a strong mix of positive business results and signals of central banks remaining expansive, the upward trend on equity markets is strengthened and may continue,” said Daniel Gschwend, portfolio manager at Diem Client Partner AG in Zurich, which oversees more than 1 billion Swiss francs ($1.08 billion) in assets. “Looking at this long winning streak, however, I expect a substantial correction will soon be needed.”
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Bayer AG (BAYN) increased to the highest price in more than four weeks after saying sales will rise 4 percent to 5 percent this year. Telefonica (TEF) SA added 1.4 percent as Spain’s biggest phone company reported fourth-quarter earnings that beat analysts’ estimates. Royal Bank of Scotland Plc slid to its lowest price this year after posting a wider full-year loss.
The Stoxx Europe 600 Index gained 0.7 percent to 289.04 at 3:59 p.m. in London, extending its advance this month to 0.7 percent, for its longest monthly winning streak since 1997. The benchmark has risen 3.4 percent this year as U.S. lawmakers agreed on a budget avoiding automatic fiscal changes that had threatened to push the world’s biggest economy into recession.
“Thanks to a strong mix of positive business results and signals of central banks remaining expansive, the upward trend on equity markets is strengthened and may continue,” said Daniel Gschwend, portfolio manager at Diem Client Partner AG in Zurich, which oversees more than 1 billion Swiss francs ($1.08 billion) in assets. “Looking at this long winning streak, however, I expect a substantial correction will soon be needed.”
For more Information Plz log on to www.rpshares.com
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