European stocks rose for the first time in
three days as companies from Marks & Spencer Group Plc to Natixis
SA posted better-than-estimated earnings.The Stoxx Europe 600 Index climbed 1.7 percent to 336.36 at the close of trading as all the industry groups on the gauge climbed. The measure had lost 1.8 percent in the past two days as some earnings missed projections and the European Commission cut growth forecasts for the region.
Profit for Stoxx 600 companies may increase 7.2 percent this year, analysts predict. That™s down from 8.3 percent growth forecast just a month ago. The gauge trades at 15.2 times its members™ projected earnings, 21 percent above its five-year average valuation, data compiled by Bloomberg show.
A private report based on October payrolls showed American companies hired the highest number of workers since June. The ADP Research Institute™s data precedes the Labor Department™s employment report on Nov. 7.
Source : Bloomberg
