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European stocks rose
European stocks advanced to a 13- month high amid optimism policy makers will take steps to protect the region’s banks and as American consumer sentiment and leading economic indicators beat forecasts. National benchmark indexes advanced in all of the 18 western European markets. On result of yesterday’s session: FTSE 5,852.42 +17.91 +0.31% CAC 3,488.38 +7.89 +0.23% DAX 7,040.88 +44.59 +0.64% Shares of Swiss Life rose 3.1%. The company said first-half profit was above consensus. Bankia SA jumped 4.9%. Reuters reported yesterday that the bank will get some rescue funds shortly. Finmeccanica SpA jumped 11% after today’s report that the Italian government is considering a plan to sell stakes in Eni SpA, Enel SpA and Finmeccanica for a total value of about 25 billion euros ($31 billion) as part of plan to cut public debt. Air France-KLM rallied 3.7%. The carrier’s biggest pilot union voted to back a management plan that will reduce staff strength in the coming years.
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