Euro Renaissance Shines as Confidence Returns

Greek borrowing costs dropped to the lowest since 2010, Portugal sold bonds for a second straight month and European equities rose for a fifth day as confidence in the 18-nation euro area returns.

European stocks were boosted by a Goldman Sachs Group Inc. forecast for higher car sales in western Europe. The euro has appreciated 13 percent against the dollar from its 2012 low and is more than 14 U.S. cents above its lifetime average. Portugal, nurtured toward financial recovery with the backing of its European neighbors, raised funding from debt markets for a second straight month. The country didn’t sell bonds for almost two years after getting a bailout in 2011.