After the Russian Calls End to their Drills, The European Stocks Advances - European stocks rose, following U.S. equities higher, after a report that Russian war planes have finished military exercises near Ukraine's border. U.S. index futures and Asian shares also advanced.
Balfour Beatty Plc increased 1.6 percent after rejecting a revised merger proposal from Carillion Plc. Banco Popolare SC jumped 7.4 percent after the Italian lender unexpectedly posted a profit in the second quarter. The Stoxx Europe 600 Index gained 0.9 percent to 327.73 at 8:30 a.m in London. The benchmark gauge fell 2.1 percent last week, posting its first back-to-back weekly losses since March, amid crises in Iraq, Ukraine and the Gaza Strip. Standard & Poor's 500 Index futures added 0.2 percent today, while the MSCI Asia Pacific Index rallied 1.2 percent.
European stocks pared a decline decline on Aug. 8 after the RIA Novosti news service reported that Russia wants to de-escalate the conflict in eastern Ukraine by mediating between Kiev and the separatists.
Russia’s Defense Ministry has returned its armed forces to their bases, Interfax reported late on Aug. 8. The report said troops and planes had finished military drills held at the Ashuluk firing range in the Astrakhan region. The S&P 500 (SPX) rose 1.2 percent on Aug. 8, its biggest gain in five months.
Source: bloomberg.com
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