European Stocks Rise to 2007 High Amid Ukraine, Greece Optimism
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European stocks rose to their highest level in more than seven years on optimism that the crisis in Ukraine won’t escalate and Greece will reach a bailout deal. Greek, Italian and Spanish shares rallied.
The Stoxx Europe 600 Index gained 0.8 percent to 374.83 at the close of trading, erasing a drop of as much as 0.2 percent, after leaders of Russia, Ukraine, Germany and France agreed on a cease-fire. Germany’s DAX Index advanced 1.6 percent, with Adidas AG and Metro AG up more than 2 percent. Greece’s ASE Index rose 6.7 percent as euro-area finance chiefs postponed a decision on Greece until next week. Benchmarks of Italy, Spain and Portugal added at least 1.8 percent.