ROME: European stocks climbed Wednesday, on track for their best close in more than three weeks, as investors responded to corporate earnings reports.
The Stoxx Europe 600 SXXP, +0.68% rose 0.8% to 401.83, with gains in all sectors.
The basic materials group SXPP, +2.43% put in the strongest performance, finding support in part after Liberum, in a “reluctant sector upgrade”, raised its rating to hold from sell on mining heavyweights BHP Billiton PLC BLT, +2.67% BHP, +2.87% BHP, +2.28% Rio Tinto PLC RIO, +1.93% RIO, +1.93% RIO, +1.85% and RIO, +2.77% Glencore PLC GLEN, +1.95% . BHP and Rio shares were each up 2.5%, and Glencore tacked on 2%.
Also providing support for the material group was an increase in July services-sector activity in China — a major market for commodity producers — to an 11-month high.
