European Stocks Erase Their Decline as U.S. Equities Rise
This article is for subscribers only.
European stocks erased their decline in the final half an hour of trading, leaving the Stoxx Europe 600 Index at a five-year high, as U.S. equities rebounded after Congress agreed to extend the American government’s debt limit.
SABMiller Plc rose 4.2 percent after posting an unexpected increase in lager volumes. Sulzer dropped 4.4 percent as the Swiss pump maker cut its full-year sales forecast for a second time. Outotec slid the most in almost five years after the supplier of smelters to mining companies reduced its guidance for 2013. Royal KPN NV plunged 7.9 percent after America Movil SAB withdrew its $9.7 billion takeover offer for the company.