Miners and Banks Boost European Stocks
Prime Minister Jean-Claude Juncker of Luxembourg, head of the group of eurozone finance ministers, heads to Athens tomorrow to discuss with Greek Prime Minister Antonis Samaras a two-year extension to the country’s fiscal-adjustment program. French President Francois Hollande and German Chancellor Angela Merkel meet in Berlin on Thursday.
In European trading, miners Rio Tinto PLC (NYSE: RIO) picked up 1.8%, BHP Billiton Ltd. (NYSE: BHP) rose 1.4% and Anglo American PLC gained 1.8%. Lonmin PLC was up 2.5% after management said striking miners who do not return to work today may keep their jobs.
Royal Bank of Scotland Group PLC (NYSE: RBS) added 2%, while Barclays PLC (NYSE: BCS) gained 1.6% and Lloyds Banking Group PLC (NYSE: LYG) increased 1%. Credit Agricole SA rose 2.2%, Société Générale SA added 1.7% and BNP Paribas SA was 1.6% higher. Deutsche Bank AG (NYSE: DB) added 1.2%.
Straumann plunged 6.7% after a disappointing earnings report. Chocolate maker Lindt slipped 0.8% despite better-than-expected earnings.
London’s FTSE 100 is up 0.3%. The German Dax is 0.4% higher and the CAC 40 has gained 0.7%.