FRANCE: European stocks rose after Russia and Ukraine agreed on a cease-fire and Greek banks rallied amid optimism the nation will reach a deal on its bailout terms.
The Stoxx Europe 600 Index gained 0.5 percent to 373.89 at 9:40 a.m. in London, erasing a drop of as much as 0.2 percent. Leaders of Russia, Ukraine, Germany and France struck an accord after all-night peace talks in Minsk. Stocks in Germany, the biggest trade partner in western Europe for Ukraine and Russia, jumped 1.2 percent. Adidas AG and HeidelbergCement AG each advanced more than 2 percent.
The Greek ASE Index rose 3.3 percent, with the National Bank of Greece SA and Eurobank Ergasias SA climbing more than 8 percent, as euro-area finance chiefs put off tough decisions on Greece until Feb. 16. Greek stocks led the Stoxx 600 lower yesterday amid concern negotiations to win bridge funding would fail at a meeting yesterday. European Union leaders will also gather at a summit in Brussels later today.
European stocks are heading for the highest level in more than seven years after the best January since 1989. The Stoxx 600 has rallied 9.1 percent this year after the European Central Bank announced quantitative-easing measures.
