Stocks Gain as Finance Ministers Meet on Europe; Euro Declines
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Stocks rose, driving the Standard & Poor’s 500 Index to the third-biggest weekly gain since 2009, as finance ministers met to tackle Europe’s debt crisis. The euro weakened, Treasuries advanced and commodities fell.
The S&P 500 climbed 0.6 percent to 1,216.01 at 4 p.m. New York time, completing a five-day advance of 5.4 percent. The Stoxx Europe 600 Index added 0.6 percent. The euro lost 0.6 percent to $1.3786 and weakened against 13 of 16 major peers, while the Dollar Index advanced 0.5 percent to 76.618 to halt a three-day slide. Ten-year Treasury yields lost two basis points to 2.06 percent, paring the biggest weekly gain in two months.