Gains in Drugmakers Push European Stocks Higher for a Third Day
Health Care Stocks Lead Stoxx 600’s 3rd Day of Gains
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European stocks extended their highest level in almost 13 months, with drugmakers leading gains in defensive companies and cyclical shares lagging in a reversal of a recent trend.
The Stoxx Europe 600 Index rose 0.3 percent at the close, capping its biggest three-day advance since early December. The benchmark earlier climbed as much as 0.6 percent. Actelion Ltd. jumped 19 percent, pushing drugmakers to the best performance among industry groups, while carmakers and miners fell.