Europe Stocks Gain as Food, Banks Stocks Jump Offset Retailers
A BMW 220i Gran Tourer automobile, left, and a BMW 220d xDrive Gran Tourer automobile, produced by Bayerische Motoren Werke AG (BMW), stand on display on the opening day of the 85th Geneva International Motor Show in Geneva, Switzerland, on Tuesday, March 3, 2015. The International Geneva Motor Show opens to the public on March 5, and will showcase the latest models from the world's top automakers.
Photographer: Matthew Lloyd/BloombergEuropean stocks advanced for the first time in three days as a rally in food and beverage firms offset a plunge in retailers.
The Stoxx Europe 600 Index rose 0.7 percent at the close, with all but two industry groups in the green. Automakers outperformed after data showed European car sales rebounded in May. Retailers slid, following U.S. peers lower after Amazon.com Inc. said it’s in a definitive pact to buy Whole Foods Market Inc.