European Stocks Rise for Fourth Day as UBS, Philips Gain
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European stocks rose for a fourth day, extending a seven-week high, as companies from UBS AG to Royal Philips Electronics NV reported increased profit.
UBS, Switzerland’s largest bank, rallied to a two-year high. Philips, the Dutch maker of light bulbs and electric toothbrushes, gained for an eighth day. Portugal’s PSI-20 Index advanced 2.3 percent as President Anibal Cavaco Silva affirmed that he doesn’t want to call early elections. Mobistar SA slumped the most on record after the Belgian mobile-phone company cut profit forecasts and suspended its dividend.