The fastest profit growth since 2004 will push European stocks up 15 percent by January, handing investors the biggest two-year advance in a decade, according to estimates from 13 strategists surveyed by Bloomberg.
Prada SpA, the fashion house known for its Miu Miu bags and Church’s shoes, is planning the largest initial public offering of a family-owned Italian company since 2006. Investors in Prada’s hometown of Milan will have to reach about 5,800 miles away to buy the stock.
Most European stocks rose as the Stoxx Europe 600 Index headed for its first weekly gain in three, after euro-area leaders announced a new aid package for Greece and measures to prevent sovereign bond yields increasing.
German stocks rose, sending the benchmark DAX Index toward its highest close in more than two years, amid forecasts that companies will continue to grow profits even as Europe’s sovereign-debt crisis spreads.