Bloomberg News

European Stocks Advance as Standard Chartered, Prudential Climb

June 28, 2011

June 28 (Bloomberg) -- European stocks climbed as Greek Prime Minister George Papandreou called on his country’s lawmakers to back tougher austerity measures. Asian shares advanced and U.S. futures were little changed.

Standard Chartered Plc rose 1.4 percent after the U.K.’s third-largest bank by market value said first-half profit before taxes may post “double-digit” growth from a year earlier. Prudential Plc climbed 2 percent after Goldman Sachs Group Inc. upgraded the U.K.’s largest insurer to “buy.”

The benchmark Stoxx Europe 600 Index advanced 0.2 percent to 264.61 at 8:04 a.m. in London. Since its peak this year on Feb. 17, the gauge has still tumbled 9.1 percent as U.S. economic data trailed forecasts, adding to concern that Greece will fail to repay all its debt. Standard & Poor’s 500 Index futures expiring in September slid 0.1 percent today, while the MSCI Asia Pacific Index climbed 0.3 percent.

To contact the editor responsible for this story: Will Hadfield at

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