ROME: European stocks rose, extending a rally that has helped them recoup about half the losses from a summer rout, as European Central Bank President Mario Draghi reiterated that officials are ready to act to maintain support of the euro-area recovery.
The Stoxx Europe 600 Index advanced 0.5 percent to 380.18 at 8:06 a.m. in London. The level of monetary policy accommodation provided by the ECB will need to be re-examined in December, Draghi said at a cultural event in Frankfurt on Tuesday, reinforcing a signal first given on Oct. 22. Falling energy prices and slowing global trade are making it harder for the central bank to meet its inflation target of just under 2 percent.
European stocks rose for a second day Tuesday, reversing earlier losses as energy and commodity producers advanced. The Stoxx 600 has climbed 12 percent since a Sept. 29 low, including last month’s best gain since 2009.
