Europe Stocks Advance Amid Thin Trading Before OPEC, Italy Vote
- Actelion jumps after J&J said to raise takeover offer
- Travel shares rise, energy producers drop on OPEC discord
European Stocks Edge Higher on Italian Banks
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A rebound in bank shares helped European stocks recover from their biggest drop in more than three weeks, while trading remained thin before the upcoming OPEC meeting and the Italian referendum.
A gauge of banks rose for the first time in five days, with Italy’s UBI Banca SpA and Intesa Sanpaolo SpA among the biggest gainers. Actelion Ltd. jumped 10 percent, reversing earlier losses, after people familiar with the matter said Johnson & Johnson raised its takeover offer for the Swiss drugmaker. Discord among OPEC members before tomorrow’s meeting sent crude prices and energy shares lower, while boosting airlines on bets of cheaper fuel. IAG SA and Air France-KLM rose at least 1.3 percent