Stocks Gain on German Confidence, M&A; Yen Strengthens

Stocks rose, with the Standard & Poor’s 500 Index climbing to a five-year high, as German investor confidence increased and takeover speculation grew in the U.S. The yen strengthened while Chinese shares slid the most in a month and industrial metals declined.

The S&P 500 gained 0.7 percent to 1,530.94 at 4 p.m. in New York, the highest level since the month of its record in October 2007. The Stoxx Europe 600 Index advanced 1.1 percent as Danone SA jumped the most in more than two years after reporting earnings. The yen climbed against 14 of 16 major peers. The Shanghai Composite Index sank 1.6 percent on concern the government may introduce measures to curb property prices. Nickel slid 2.6 percent, while natural gas surged.