Stocks Rise With Euro on Inflation as Gold Gains; Oil Holds Drop

European stocks rose, with the benchmark index reaching a five-year high, while Spanish bonds declined on signs of accelerating inflation in the 17-nation bloc. The euro climbed against the yen and the pound advanced while crude oil held declines and gold rallied.

The Stoxx Europe 600 Index gained 0.4 percent to the highest close since May 2008, and yields on Spanish five-year notes rose six basis points to 2.66 percent. Most Brazilian stocks fell while Canadian shares climbed as gold rose for the first time in three days in London. The euro gained to a four-year high versus the yen and the pound touched the strongest price since January. West Texas Intermediate oil held near a six-month low and Brent crude lost 0.4 percent.