Bloomberg News

European Stocks Gain for Seventh Day; Celesio Rises, CSM Slides

July 05, 2011

July 5 (Bloomberg) -- European stocks advanced, with the Stoxx Europe 600 Index rising for a seventh straight day, before a U.S. report that may show factory orders rebounded in May. Asian shares fell and U.S. index futures were little changed.

Celesio AG, Europe’s biggest drug wholesaler, jumped 4.8 percent after analysts raised their recommendation on the stock. CSM NV slumped 9 percent, its largest drop in 2 1/2 years, after saying first-half earnings will decline because of higher raw- material costs.

The Stoxx 600 climbed 0.3 percent to 276.38 at 10:50 a.m. in London. The index surged 4.4 percent over the past six trading days after Greek lawmakers passed a five-year austerity package, qualifying the country for further aid. The measure still slipped 1.1 percent in the second quarter on concern that Greece will fail to repay all its debt.

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

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