Economics
European Stocks Post Biggest Weekly Gain in Five Months
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European stocks posted the biggest weekly gain in five months as investors speculated the region’s central bank will cut rates and as companies from BASF SE to Standard Life Plc reported better-than-expected results.
BASF jumped 11 percent as the world’s biggest chemical company posted first-quarter profit that beat analyst estimates. Standard Life surged 16 percent. Cie. Financiere Richemont SA climbed 9.8 percent after full-year profit beat forecasts. Royal KPN NV slid 8 percent after it canceled its dividend for the next two years and said it will sell new shares at a discount.