European Stocks Rebound as China Allays Crunch Concern
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European stocks climbed from a six-month low as the People’s Bank of China allayed concern over a cash crunch, and as U.S. data on durable goods, new-home sales and confidence increased more than economists had projected.
PSA Peugeot Citroen rose 4.9 percent after saying it received more than 26,000 orders for its 2008-model crossover in Europe. Vinci SA rose 3.9 percent after Berenberg Bank initiated coverage of the stock with a buy rating. ARM Holdings Plc gained 3.6 percent as Investec Plc recommended buying the shares.