European stocks advanced, after yesterday’s drop, as investors weighed an accord between U.S. lawmakers to limit automatic spending cuts and avoid a government shutdown. U.S. index futures were little changed, while Asian shares fell.
Europe’s high-yield bond market will get riskier next year, with some of the world’s biggest money managers predicting the lowest-rated and most-indebted companies will escalate sales to take advantage of cheap borrowing.
Spanish government bonds rose for a fourth day, pushing five-year note yields to an eight-year low, as investors purchased the securities before the end of the year amid signs the country’s outlook has improved.
Bayerische Motoren Werke AG, the world’s biggest maker of luxury cars, is considering building engines in North America for the first time and expanding vehicle production in the region to capitalize on growing demand, three people familiar with the matter said.