European Stocks Advance Amid U.S. Budget Talks Optimism
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European stocks climbed the most in more than two months as U.S. President Barack Obama expressed confidence that he will strike a deal with Congress on a new budget to avoid the so-called fiscal cliff.
HSBC Holdings Plc added 3.8 percent after the bank said it has held talks to sell its $9 billion stake in Ping An Insurance (Group) Co. BP Plc gained 3.6 percent following a report that the oil company plans a 3.7 billion-pound ($5.9 billion) buyback. ING Groep NV advanced 3.7 percent after the European Commission granted it more time to sell its insurance operations in the region.