Pursuits
European Stocks Gain After Fed Minutes, Trimming Monthly Slide
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European stocks gained for a third day, trimming their biggest monthly drop since 2008, as U.S. business activity and factory orders topped forecasts and Federal Reserve minutes showed some policy makers wanted to add to stimulus measures.
Bouygues SA soared 16 percent after announcing a buyback. Smith & Nephew Plc, Europe’s biggest maker of artificial hips and knees, rallied 4.9 percent amid takeover speculation. UPM-Kymmene Oyj, Europe’s second-largest papermaker, rose 7.5 percent after saying it will close mills to cut capacity. Deutsche Telekom AG sank 7.6 percent as the U.S. sued to block AT&T Inc.’s acquisition of its T-Mobile USA Inc. unit.