Deutsche Boerse AG jumped the most in five months as CME Group Inc. was said to have approached the exchange over merger talks. BP Plc advanced 2.2 percent after a report the U.S. may settle oil-spill claims. PostNL (PNL) NV rose the most in a month as earnings beat estimates. Reckitt Benckiser Group Plc slid 3.1 percent after a U.S. regulator gave rivals approval to produce generic versions of its Suboxone heroin-dependency treatment.
The Stoxx Europe 600 Index (SXXP) increased 0.4 percent to 289.63 at 2:53 p.m. in London after earlier climbing as much as 0.7 percent to the highest intraday level in two years. The equity benchmark is on course for a ninth month of gains, the longest winning streak since 1997, as U.S. lawmakers agreed on a compromise budget and European Central Bank President Mario Draghi pledged to defend the euro.
“The market is temporarily relieved by Berlusconi’s defeat,” said Pierre Mouton, who helps oversee $6 billion as portfolio manager at Notz, Stucki & Cie. in Geneva. “He was maybe the biggest threat for euro cohesion. Having a pro- stimulus Bank of Japan governor can be good on a short-term basis because we all know Japan needs negative real interest rates.”
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