European Stocks Rebound After Three-Day Decline as Banks AdvanceBy
A rally in lenders helped push European stocks to their first gain in four days, with earnings reports also moving some shares.
The Stoxx Europe 600 Index increased 0.4 percent at the close. Anglo American Plc rose 6.1 percent, lifting miners higher, after its South African iron-ore unit reinstated its dividend.
The Stoxx 600 and Germany’s DAX Index fell in recent sessions as allegations of collusion hit carmakers. The DAX was little changed on Tuesday.
- The Stoxx 600 is entering its busiest period of the earnings season so far, with about a third of its members reporting this week. Releases are due from Daimler AG, GlaxoSmithKline Plc and Deutsche Bank AG.
- Lenders were the second-biggest contributors to gains on Tuesday, with Banco Sabadell SA up 3.7 percent. Swiss Re AG agreed to pay about 684 million euros ($796 million) for a portfolio of retail life policies held by a venture partly owned by Sabadell.
- Informa Plc and Segro Plc jumped at least 2.7 percent after reporting positive results.
- A substantial degree of accommodative monetary policy is still needed to help ease inflation pressures, European Central Bank Executive Board member Yves Mersch said at an event Tuesday.
— With assistance by Namitha Jagadeesh, and Elena Popina