European stocks advanced for a fourth day as investors weighed earnings results and awaited reports that may show rising economic sentiment and U.S. retail sales. U.S. index futures and Asian shares also increased.
The Stoxx Europe 600 Index rose 0.5% to 307.55 at 8:29 a.m. in London, the highest level since May 28. The measure has been up 10% in 2013, led by automobile and financial-services companies, as central banks around the world maintained stimulus measures.
According to Bloomberg the report at 11 a.m. Frankfurt time may show investor confidence in Germany, Europe’s largest economy, increased in August. The ZEW Center for European Economic Research’s index of investor and analyst expectations, which aims to predict economic developments six months in advance, rose to 39.9 from 36.3 in July, pointed the median forecast of economists.
Separate data may show industrial production in the euro region rose 1 percent in June, after contracting 0.3% in May, a separate survey shows. A report at 8:30 a.m. in Washington may show U.S. retail sales climbed for a fourth consecutive month in July, increasing 0.3%, according to the median economist forecast compiled by Bloomberg.
In European corporate news, EON rallied 3.8% to 12.70 euros, the biggest gain since April 10. Germany’s largest utility reported first-half underlying net income of 1.91 billion euros ($2.54 billion), beating the average analyst estimate of 1.79 billion euros.
Pandora surged 3.3% to 224.70 kroner. The Danish maker of bracelets and charms reported second-quarter income that exceeded analyst estimates as revenue surged in all its major markets driven by sales of new products.
Resolution Ltd. added 4.9% to 339.6 pence. The insurance-buyout firm founded by Clive Cowdery reported a 17% in increase in first-half profit, beating analyst estimates, as its U.K. division boosted new business.
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