European Stocks Rise as Telecommunication Company Shares Advance
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European stocks advanced, following a two-day decline, as telecommunications companies climbed, outweighing U.S. consumer confidence and regional manufacturing reports that trailed economists’ estimates.
Telecom Italia SpA gained 1.7 percent as Telefonica SA agreed to increase its stake in the phone operator. Nokia Oyj added 2.4 percent after a U.S. judge found that HTC Corp. violated two of its patents. Total SA climbed 2.6 percent after Barclays Plc raised its rating on the oil producer. Burckhardt Compression Holding AG slid 7.3 percent after saying fiscal first-half net income will decline from the year-earlier period.