“European stocks gained for a second day as demand increased at a Spanish debt sale and German investor confidence topped forecasts. U.S. index futures rose, while Asian shares fell.
Banks contributed the most to the Stoxx Europe 600 Index’s advance as Banco Popolare SC (BP) and Barclays Plc (BARC) climbed. Repsol YPF SA (REP) plunged 6.4 percent as Argentina took control of the Spanish company’s YPF unit following a dispute over slumping oil output and investments. Danone (BN) advanced as the world’s biggest yogurt maker reported higher first-quarter sales.
The Stoxx 600 rose 1 percent to 256.69 at 11:08 a.m. in London. The benchmark index hasclimbed 5 percent this year as the European Central Bank flooded financial markets with 1 trillion euros ($1.3 trillion) of cheap loans for three years to ease credit. ECB Governing Council member Ewald Nowotny said late yesterday that he doesn’t see an “immediate need” for a third three-year tender….”
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