Gains in Banks, Drugmakers Lift Europe Stocks by Most in a Month
Stoxx 600 Rises as Carmakers, Drugmakers Rebound
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European stocks rose, eking out a third weekly advance, as banks rallied after fourth-quarter earnings from U.S. lenders, while carmakers and health-care shares bounced back from their biggest declines in months.
The Stoxx Europe 600 Index gained 1 percent at the close. Banks in the gauge rose 2 percent after better-than-forecast profit at JPMorgan Chase & Co. spurred optimism for the earnings season. Carmakers recovered after tumbling the most since July yesterday on U.S. government accusations that Fiat Chrysler Automobiles NV violated pollution laws. Health-care shares climbed, halting a two-day decline prompted by concern over price pressures under Donald Trump’s U.S. presidency.