Bloomberg News

European Stocks Climb for Third Day Before Greek Austerity Vote

June 29, 2011

June 29 (Bloomberg) -- European stocks rose for a third day amid speculation that Greek lawmakers will pass an austerity plan needed to avoid default.

The Stoxx Europe 600 Index climbed 0.6 percent to 266.86 at 8:02 a.m. in London for the longest winning streak in almost two months. The benchmark gauge has still tumbled 8.4 percent from its peak this year on Feb. 17 as investors speculated that Greece will fail to repay all its debt. The retreat left the measure trading at the cheapest valuation compared with reported profits since 2008 last week, according to data compiled by Bloomberg.

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