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European Stocks Rise Third Day Amid Expectations of ECB Stimulus

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European stocks advanced for a third day, extending their highest level since 2008, amid investor expectations the European Central Bank will announce a plan for quantitative easing this week.

The Stoxx Europe 600 Index added 0.2 percent to 353.18 at the close of trading. The equity gauge pared gains in the final hour after earlier increasing as much as 0.7 percent. Stocks climbed to a 7-year high on Friday as rising oil producers outweighed a slump in Swiss shares. Switzerland’s SMI Index rebounded 3.2 percent today after posting its worst week since 2008 following the Swiss National Bank’s surprise move to end a cap on the franc.