Europe Stocks Rise to Five-Year High as Fed Resists Taper
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European stocks rose to the highest level in more than five years as the Federal Reserve unexpectedly decided against slowing the pace of its monthly bond purchases.
UniCredit SpA and Standard Chartered Plc climbed more than 2 percent each as a gauge of lenders advanced. Randgold Resources Ltd. and Polymetal International Plc jumped at least 7 percent as the price of gold rallied. Cie. Financiere Richemont SA and Swatch Group AG added more than 1 percent as a report showed Swiss watch exports increased last month.