Stocks Rise as French Banks Rebound; Treasuries Slump, Oil Gains

U.S. stocks rose, Europe’s benchmark equity index rebounded from a two-year low and Treasuries fell as French banks dismissed concerns over their access to funds and investors watched for signs of progress in efforts to tame the euro region’s debt crisis.

The Standard & Poor’s 500 Index advanced 0.9 percent at 4 p.m. New York time. The Stoxx Europe 600 Index rose 0.9 percent. Societe Generale SA, which had plunged 8.1 percent, rallied 15 percent and BNP Paribas SA added 7.2 percent following a 12 percent retreat after the French banks said they are able to finance their operations. Yields on 10-year Treasuries climbed four basis points to 1.99 percent. Oil futures increased 2.3 percent. The MSCI Emerging Markets Index fell, extending its drop since this year’s peak to 20 percent.