The European Union will probably stick to a policy of seeking temporary solutions to its debt crisis in the coming weeks rather than move toward a fiscal union or breakup of the euro, a top Fitch Ratings official said.
European stocks advanced for the first time in three days as Federal Reserve chairman nominee Janet Yellen said she is committed to promoting a strong U.S. economic recovery and will ensure monetary stimulus isn’t removed too soon.
U.K. stocks swung between gains and losses, with the benchmark FTSE 100 Index heading for its third consecutive weekly increase, as a report showed Britain’s economic growth last quarter met forecasts.
U.K. stocks advanced, extending a five-year high, after jobless claims in the country fell more than estimated in January and Bank of England minutes showed more members voted for increasing stimulus measures.
European stocks posted their first weekly decline this month as Italian bonds fell after a debt auction, while concern mounted that political wrangling in Washington will lead to a shutdown of the U.S. government.