European Stocks Rise as Yellen Optimism Spills Into Second DayBy
European stocks extended a rally driven by bets that the Federal Reserve won’t rush to tighten monetary policy.
The Stoxx Europe 600 Index added 0.3 percent at the close. The benchmark on Wednesday jumped the most since April as Fed Chair Janet Yellen stressed that below-target inflation warrants a gradual approach to balance-sheet reduction.
- Daimler AG lost 0.5 percent after retreating as much as 3 percent as a German newspaper said the automaker faces criminal allegations that it sold cars with illicit emissions controls for almost a decade.
- AstraZeneca Plc dropped 3.5 percent on a report that Chief Executive Officer Pascal Soriot is leaving for another drugmaker.
- Partners Group Holding AG jumped 2.2 percent after the Swiss asset manager raised its full-year estimates for new client assets.
- Storebrand ASA extended its highest price since 2007 after the Norwegian insurer’s results beat estimates.
- In the U.K., Prime Minister Theresa May’s administration will set out the legal mechanism for adjusting British law after Brexit. Without an automatic majority in Parliament, May is likely to need votes from other parties to pass the bill. The FTSE 100 Index was little changed.
— With assistance by Elena Popina