Bloomberg News

European Stocks Climb, Snapping Three Days of Losses; ASML Falls

July 13, 2011

July 13 (Bloomberg) -- European stocks rose, halting three days of losses for the benchmark Stoxx Europe 600 Index, as China posted economic growth that beat forecasts, offsetting Moody’s Investors Service’s downgrade of Ireland’s debt to junk. U.S. index futures and Asian shares advanced.

ASML Holding NV tumbled 5.6 percent after Europe’s biggest semiconductor-equipment maker reported second-quarter orders that missed its own forecast. Carrefour SA fell 1 percent as the world’s second-largest retailer by sales posted second-quarter sales growth that trailed analysts’ estimates.

The Stoxx 600 increased 0.3 percent to 269.01 at 8:29 a.m. in London. The gauge had fallen 2.8 percent over the past three days as investors speculated that the euro area’s sovereign-debt crisis would spread to the bigger economies of Italy and Spain.

To contact the editor responsible for this story: Will Hadfield at whadfield@bloomberg.net


American Apparel's Future
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus