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European stocks advanced for the first time in four days amid speculation policy makers are examining measures to shield banks from the region’s sovereign- debt crisis.
Benchmark indexes rose in all 18 western European markets, with the exception of Iceland. The DAX climbed 4.9 percent in Frankfurt. France’s CAC 40 rose 4.3 percent and the U.K.’s FTSE 100 advanced 3.2 percent.
FTSE 100 5,102 +157.73 +3.19%, CAC 40 2,974 +123.35 +4.33%, DAX 5,473 +256.32 +4.91%
Dexia SA snapped a four-day plunge after France and Belgium said a “bad bank” will be set up to hold its troubled assets. BNP Paribas SA and Societe Generale SA, France’s biggest lenders, climbed more than 8 percent. Rio Tinto Group led mining companies higher. European Aeronautic, Defence & Space Co. rose 5.7 percent after saying 2011 will be a “very good” year.
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