European Stocks Rise as Rate-Cut Bets Grow, Deutsche Bank Gains
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European stocks advanced on optimism over future interest-rate cuts ahead of a keenly anticipated speech from Federal Reserve Chair Jerome Powell.
The Stoxx Europe 600 Index was up 0.3% by the close in London, bolstered by gains among retailers and the consumer goods sector. Deutsche Bank AG rose 4.0% after saying it expects a €430 million ($480 million) boost to its earnings after making progress in talks in the Postbank AG litigation. Shares pared some gains late in the session after data showed US manufacturing activity contracted, while Treasury yields rose.