European Stocks Gain Before Manufacturing Report; Bunds Decline

By Michael Shanahan

 

Feb. 1 (Bloomberg) -- European stocks rose, U.S. equity index futures advanced and German bunds fell before a report that may show American manufacturing expanding at the fastest pace since June. Italian bonds gained after Greece offered a sweetener to win a debt-swap deal with bondholders.

The Stoxx Europe 600 Index climbed 1.3 percent at 10 a.m. in London. Futures on the Dow Jones Industrial Average added 0.7 percent, indicating the U.S. gauge will snap the longest losing streak since August. The yield on German 10-year bunds rose four basis points, snapping a five-day decline, while the equivalent maturity Italian yield slid 17 points. The euro strengthened 0.1 percent to $1.3101, rebounding from a 0.4 percent drop.

Read more: http://www.businessweek.com/news/2012-02-01/european-stocks-gain-before-manufacturing-report-bunds-decline.html