Economics
European Stocks Climb as Munich Re Advances; KPN Tumbles
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European stocks climbed the most in almost four weeks as companies from Munich Re to BP Plc beat earnings estimates and a measure of euro-area services output shrank less than forecast.
Munich Re rose the most since July after the world’s biggest reinsurer said it will increase its dividend for 2012. Virgin Media Inc. surged to a record price after confirming it held talks with Liberty Global Inc. Royal KPN NV retreated the most in more than 11 years after saying it will sell 4 billion euros ($5.4 billion) of shares.