Bloomberg News

European Stocks Gain, Snapping Three-Day Drop; Burberry Advances

July 13, 2011

July 13 (Bloomberg) -- European stocks advanced, halting three days of losses for the benchmark Stoxx Europe 600 Index, as China posted economic growth that beat forecasts. U.S. index futures and Asian shares rose.

Burberry Group Plc surged 3.6 percent as the U.K.’s largest luxury-goods maker reported first-quarter sales that beat analysts’ estimates. ASML Holding NV tumbled 4.2 percent after Europe’s biggest semiconductor-equipment maker reported second- quarter orders that missed its own forecast.

The Stoxx 600 increased 0.3 percent to 268.94 at 10:31 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


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