On Friday European stocks rose for a fourth day as investors awaited a meeting of policy makers in Poland for more details on their efforts to contain the region’s debt crisis. Asian shares climbed and U.S. index futures fell.
ING Groep NV led insurers higher. Lonza Group AG, the world’s biggest maker of chemicals for drug companies, rallied 4.8 percent after saying it plans a secondary listing in Singapore.
The Stoxx Europe 600 Index gained 0.6 percent to 229.96 at 10:12 a.m. in London. The gauge has advanced 2.4 percent this week as the European Central Bank announced coordinated measures with the Federal Reserve to ensure banks have enough dollars and Germany and France assured investors that Greece will remain a member of the euro.
ECB Executive Board member Juergen Stark said yesterday there are no signs at the moment that Greece won’t be able to pay its debt. As long as there are no indications from observers that Greece’s debt load has become unsustainable, there is no reason to doubt that the country can repay its creditors, Stark said in Vienna.
European finance ministers are meeting in Wroclaw, Poland, during the day to discuss the euro-area crisis. Jean-Claude Trichet, president of the region’s central bank, said on Thursday that the policy makers need to show the same “unity of purpose” as central banks did yesterday in providing extra dollars to European lenders. Trichet was due to give a speech at 8 p.m.
The Nikkei 225 Stock Average rose by the most in more than five months after the European Central Bank and international policy makers coordinated to lend dollars to euro-area banks, increasing confidence the region’s debt crisis will be contained. The Nikkei 225 gained 2.3 percent, the biggest advance since March 30. The broader Topix rose 2.2 percent.