European Stocks Advance as Portuguese Lenders Lead Rally
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European stocks advanced the most since April as Portuguese banks led a rally by euro-zone lenders and a report showed China’s economy expanded at a better-than-expected pace.
Banco Espirito Santo SA jumped the most in at least 21 years after a Portuguese newspaper said the lender may raise 2 billion euros ($2.7 billion) from new shareholders to strengthen its capital ratios. Rio Tinto Group added 2.8 percent as the mining company said quarterly iron-ore production climbed 11 percent. Gtech SpA gained 4.1 percent after agreeing to buy International Game Technology for $4.7 billion.