Pursuits
European Stocks Climb to Highest Since April; BlueBay Rallies
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European stocks rose to the highest level since April as Royal Bank of Canada’s offer for BlueBay Asset Management Plc boosted financial-services companies, outweighing losses in BHP Billiton Ltd. and Rio Tinto Group.
BlueBay jumped 30 percent after agreeing to be bought by RBC. Credit Suisse Group AG led gains by banks as Citigroup Inc. reported earnings that topped estimates. BHP Billiton and Rio Tinto slid after scrapping an iron-ore joint venture. Royal Philips Electronics NV, the world’s largest lighting company, sank 4.2 percent for the biggest drop in two months after saying it’s “cautious” on fourth-quarter sales.