On Friday European stocks gained for a fourth day, extending its highest level since July, before reports that may show American factory output and consumer confidence increased. U.S. index futures fluctuated and Asian shares fell.
Subsea 7 SA jumped 7 percent after declaring a special dividend and saying it will buy back shares. Tullow Oil Plc advanced 3.5 percent after saying it found oil off the coast of Ghana. Oriflame Cosmetics SA increased 3.7 percent and Shire Plc climbed 1.2 percent after brokerages recommended buying shares in the companies.
The Stoxx Europe 600 Index rose 0.4 percent to 271.93 at 10:43 a.m. in London. The gauge has gained 2.5 percent this week and 11 percent this year amid optimism that the euro area will contain its sovereign-debt crisis and as U.S. economic reports topped estimates.
European stocks rose 0.3 percent on Thursday as jobless claims and manufacturing reports added to optimism that the U.S. economic recovery is gaining momentum.
A measure of consumer confidence increased to its highest level in a year this month, according to a survey of economists. The Thomson Reuters/University of Michigan preliminary index of consumer sentiment rose to 76 from 75.3 in February, according to the average of 70 economist estimates.
Asian stocks fell, after swinging between gains and losses, after the recent rally pushed its valuations to its highest level in almost two years. Japanese stocks advanced for a fourth day, capping their sixth weekly rise, after positive U.S. data on manufacturing and employment boosted confidence in the global recovery. Gains were limited on speculation the market was overbought. The broader Topix Index climbed 0.4 percent while the Nikkei 225 Stock Average rose 0.1 percent.
This article was compiled by Valletta Fund Management Limited, a member of the BOV Group.
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