European stock futures climbed, indicating the region’s equities will extend yesterday’s rally, before the leaders of the European Union attend a two-day summit. U.S. index futures fluctuated, while Asian shares rose.
Royal KPN NV might be active after Carlos Slim’s America Movil SAB won a 28 percent stake in the Dutch mobile-phone operator. Glencore International Plc (GLEN) may also move as the company seeks to revive its takeover of Xstrata Plc.
Futures on the Euro Stoxx 50 Index expiring in September advanced 0.5 percent to 2,166 at 7:10 a.m. in London. Contracts on the U.K.’s FTSE 100 Index gained 0.3 percent. Standard & Poor’s 500 Index futures added 0.1 percent, while the MSCI Asia Pacific Index jumped 1 percent.
European and U.S. stocks climbed yesterday after U.S. housing and durable-goods orders data exceeded forecasts and speculation grew that China will opt for additional economic stimulus to support the world’s second-largest economy. Asian equities extended the global rally today as Japanese retail sales rose in May more than economists had predicted.
The Stoxx Europe 600 Index has still declined 9.7 percent from its high in March, trimming the gauge’s advance so far this year to 0.5 percent, as the euro area’s sovereign-debt crisis threatened to slow global growth.
To contact the reporter on this story: Sarah Jones in London at firstname.lastname@example.org
To contact the editor responsible for this story: Andrew Rummer at email@example.com