European Stocks Post Biggest Weekly Advance Since April

European stocks posted their biggest weekly rally since April as the Federal Reserve’s decision to reduce its monthly bond purchases increased investors’ confidence in the strength of the U.S. economic recovery.

Cable & Wireless Communications Plc surged 16 percent after U.K. newspapers named it as a potential acquisition target. Carnival Plc jumped 10 percent after the world’s largest cruise-ship operator posted quarterly sales that beat estimates. CGG SA slumped 15 percent after the world’s biggest seismic surveyor of oilfields cut its earnings forecast for 2013.