Economics
European Stocks Post Weekly Advance as Earnings Top Forecasts
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European stocks advanced as earnings reports from Fiat SpA to Apple Inc. reassured investors that the global economic recovery is intact amid signs the region is weathering the sovereign debt crisis.
Fiat rallied as the carmaker reported its first profit in three quarters. Rio Tinto Group led a gauge of basic-resource stocks to the best performance among 19 industry groups in the Stoxx Europe 600 Index as Europe’s manufacturing and services industries unexpectedly grew. SSL International Plc soared 33 percent after Reckitt Benckiser Plc agreed to buy the maker of Durex condoms for 2.54 billion pounds ($3.9 billion).