European Stocks Advance as Crude Reverses Loss, Miners Climb
- Volkswagen jumps after saying no need for U.S. trial
- ABB climbs after quarterly profit beats analyst estimates
Muted Trading Session in Europe
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European stocks advanced in late trading, extending a three-month high, as a rebound in oil spurred energy stocks, and miners climbed.
Total SA led energy companies higher as crude recovered following data that showed a drop in U.S. output. BHP Billiton Ltd. paced gains in resource-related shares as metals rose after it cut its iron ore production forecast. ABB Ltd added 3.8 percent after the world’s largest maker of power grids posted profit that beat estimates. Volkswagen AG jumped 6.6 percent after saying it expects no need for a U.S. trial in mid-2016 over damages related to rigging diesel-engine control software to dupe emission tests.