U.K. stocks retreated, sending the FTSE 100 Index lower for a second day, after the euro area forced Cyprus to adopt an unprecedented levy on bank deposits, threatening to reignite the region’s debt crisis.
European stocks advanced for a third day as the International Monetary Fund raised its global growth forecast and banks climbed on optimism stress tests will ease concern about the health of the financial system.
German stocks fell for a third day, with the benchmark DAX Index declining to its lowest in more than two months, as President Barack Obama met with congressional leaders to discuss the so-called fiscal cliff, and conflict escalated in Israel.
European stocks rose, paring this week’s drop on the benchmark Stoxx Europe 600 Index, as earnings at companies from Volkswagen AG to Cie. de Saint-Gobain SA reassured investors that the global economic recovery is intact.
European stocks climbed, extending the Stoxx Europe 600 Index’s biggest weekly gain in almost two months, after U.S. companies added more jobs than forecast in August, easing concern the economic recovery is faltering.
German stocks climbed for a second day, as the benchmark DAX Index extended its rebound from the lowest level since February 2010, amid speculation the slump isn’t commensurate with the outlook for earnings.