European Markets Rise Above a Weak Euro and Greek Debt Problems

“European stocks climbed as InterContinental Hotels Group Plc (IHG) and Deutsche Post AG (DPW) posted increased earnings, helping reassure investors that the global recovery remains intact. U.S. futures and Asian shares advanced.

InterContinental Hotels surged 3.3 percent after reporting a 28 percent jump in first-quarter profit as travel recovered in the Americas. Deutsche Post gained 2.5 percent after the world’s biggest carrier of air and sea freight by volume reported first- quarter earnings before interest and taxes that exceeded the average of 14 analyst estimates compiled by Bloomberg.

The Stoxx 600 rose 1 percent to 283.12 at 12:49 p.m. in London as more than seven stocks climbed for every one that dropped. The gauge has gained 8 percent from this year’s low on March 16 as companies including PSA Peugeot Citroen and Ericsson AB reported earnings that topped analysts’ estimates and the U.S. Federal Reserve maintained its pledge to keep interest rates low for an extended period.”

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