European Stocks Rise as ECB Holds Benchmark Rate at Low
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European stocks climbed as European Central Bank President Mario Draghi reiterated that interest rates will stay low for an extended period, while the Federal Reserve said it saw a modest to moderate U.S. economic recovery.
PSA Peugeot Citroen added 5.4 percent as its chief executive officer predicted a market-share increase in an interview with Le Parisien. Telecom Italia SpA rose 8.4 percent after a report that Egyptian billionaire Naguib Sawiris may buy a stake in Italy’s biggest phone company. TeliaSonera AB slid 1.9 percent as Finland cut its holding in the network operator.