Pursuits
European Stocks Gain on Stimulus Speculation; Mining Shares Jump
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European stocks climbed, led by a rally in basic-resource companies, as Group of 20 finance chiefs heightened speculation the Federal Reserve will announce further stimulus measures next week.
Rio Tinto Group and Xstrata Plc advanced with metals as the dollar tumbled even after the G-20 pledged to avoid “competitive devaluation” of their currencies. Hermes International SCA surged 15 percent as LVMH Moet Hennessy Louis Vuitton SA agreed to buy a 17 percent stake. Banks limited gains as Banco Popolare SC announced plans for a rights offer, increasing speculation that other lenders may also need to boost capital.