European stocks advanced as Spain’s borrowing costs fell at a debt sale, while investors awaited bilateral meetings between the leaders of euro-area countries to gauge their progress in tackling the fiscal crisis.
European equity strategists say it’s too soon to buy into stocks until more clarity becomes available on whether Japan has managed to contain earthquake- damaged nuclear reactors that threaten to leak radiation.
Swiss stocks advanced for a third day as a report showed U.S. payrolls climbed more than forecast and Greece reached its target for bondholder participation in the biggest sovereign restructuring in history.
U.K. stocks rallied the most in three months as concern that Europe’s sovereign-debt crisis will spread eased and a report showed that Chinese manufacturing expanded for a fourth month, boosting raw-material companies.
European equities will climb 12 percent through the end of next year, beating 2010’s gains, as rising earnings and record-low interest rates help companies overcome the sovereign-debt crisis, a Bloomberg survey of 13 strategists shows.