Stocks in Europe, Asia Climb; Barclays, ING, ThyssenKrupp Gain
Stocks in Europe and Asia advanced, sending the MSCI World Index higher for the first time in four days, on speculation governments will expand efforts to revive the economy. U.S. futures fluctuated between gains and losses.
Barclays Plc, the U.K.’s third-biggest bank, and ING Groep NV gained more than 2 percent amid speculation the White House will help mortgage borrowers. Australia & New Zealand Banking Group Ltd. jumped 9 percent in Sydney as the country’s senate passed a $28 billion stimulus package. ThyssenKrupp AG rallied 4.4 percent after Germany’s largest steelmaker posted earnings that beat analysts’ estimates.
The MSCI World Index added 0.9 percent to 845.51 at 10:58 a.m. in London. The gauge of 23 developed markets has lost 2.9 percent this week as companies from Electricite de France SA to Diageo Plc posted disappointing results.
“The market is starting to look a little farther ahead and anticipate a recovery, that the huge stimulus packages will bear fruit,” said Franz Wenzel, Paris-based deputy director for investment strategy at Axa Investment Managers, which oversees about $770 billion.
Futures on the Standard & Poor’s 500 Index added less than 0.1 percent before a private report today that may show confidence among U.S.