European stocks rose, with the Stoxx Europe 600 Index rallying to a 4 1/2-year high, amid speculation that central banks around the world will continue with measures to support economic recovery.
Standard Chartered (STAN) Plc climbed to a two-year high after reporting a record profit for the 10th consecutive year. Serco Group Plc headed for the biggest increase in more than nine years after boosting its dividend by 20 percent. Ophir Energy Plc surged 11 percent after announcing a share sale. Telenet Group Holding NV fell 2.5 percent.
The Stoxx 600 (SXXP) jumped 1.5 percent to 293.26 at 2:34 p.m. in London, the highest level since Aug. 12, 2008. The gauge gained in February for a ninth successive month -- its longest winning streak since July 1997 -- as the European Central Bank pledged to preserve the euro and U.S. lawmakers reached a budget deal.
“After lagging for two days, European stocks and especially cyclical sectors are celebrating today,” said John Plassard, vice president at Mirabaud Securities LLP in Geneva, which oversees about $28 billion. “On the one hand, we have a confirmation of the perspective of the Federal Reserve continuing to support the economy, while on the other hand, growth in China looks to remain strong.”
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Standard Chartered (STAN) Plc climbed to a two-year high after reporting a record profit for the 10th consecutive year. Serco Group Plc headed for the biggest increase in more than nine years after boosting its dividend by 20 percent. Ophir Energy Plc surged 11 percent after announcing a share sale. Telenet Group Holding NV fell 2.5 percent.
The Stoxx 600 (SXXP) jumped 1.5 percent to 293.26 at 2:34 p.m. in London, the highest level since Aug. 12, 2008. The gauge gained in February for a ninth successive month -- its longest winning streak since July 1997 -- as the European Central Bank pledged to preserve the euro and U.S. lawmakers reached a budget deal.
“After lagging for two days, European stocks and especially cyclical sectors are celebrating today,” said John Plassard, vice president at Mirabaud Securities LLP in Geneva, which oversees about $28 billion. “On the one hand, we have a confirmation of the perspective of the Federal Reserve continuing to support the economy, while on the other hand, growth in China looks to remain strong.”
For more Information Plz log on to www.rpshares.com
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