ROME: European stocks advanced as German and Swiss economic data exceeded forecasts.
The Stoxx Europe 600 Index rose 0.2 percent to 392.04 at 8:42 a.m. in London. Reports on Tuesday showed Switzerland’s economy expanded twice as fast as economists estimated in the fourth quarter, while German retail sales climbed 2.9 percent in January, seven times the pace forecast by economists.
The Stoxx 600 has rallied 14 percent in 2015, its best-ever start to a year, as Greece reached a bailout deal and the European Central Bank announced quantitative easing.
Greece’s ASE Index gained 1.8 percent as lenders rallied. Greek Finance Minister Yanis Varoufakis said on Star TV that his country won’t fail to pay its debts in March.
Among stocks moving on corporate news, Paddy Power Plc jumped 8.5 percent to a record after saying it plans to return 8 euros a share to investors. The betting company also posted annual sales and operating profit that beat estimates.
