European stocks rose for a second week, with the Dow Jones STOXX 600 Index capping its longest stretch of monthly gains since May 2007, as investors speculated the worst of the global recession is over.
Anglo American PLC and Total SA led commodity producers higher after base metals and crude oil increased.
Tesco PLC paced an advance among retailers as investors sought shares of companies whose profits are more closely tied to economic growth.
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United Internet AG rallied 27 percent after agreeing to buy Freenet AG’s digital subscriber-line business.
The Dow Jones STOXX 600 Index rose 0.6 percent this week to 208.21.
The measure added 4 percent this month, gaining for a third straight month and bringing the rally since March 9 to 32 percent amid optimism the US$12.8 trillion pledged by the US government and the Federal Reserve will help to end the first global recession since World War II.
“People are on the lookout for bright spots and every time one appears it serves as a relief,” said Peter Braendle, who oversees about US$50 billion at Swisscanto Asset Management in Zurich.
“The economic data is no longer as alarming as it used to be. If we see an economic upturn, raw-material producers will continue to be in demand,” he said.
National benchmark indexes rose in 11 of the 18 western European markets. The UK’s FTSE 100 climbed 1.2 percent, led by a rally in mining shares.
France’s CAC 40 added 1.5 percent and Germany’s DAX advanced 0.5 percent.
The US government has signed defense cooperation agreements with Japan and the Philippines to boost the deterrence capabilities of countries in the first island chain, a report by the National Security Bureau (NSB) showed. The main countries on the first island chain include the two nations and Taiwan. The bureau is to present the report at a meeting of the legislature’s Foreign Affairs and National Defense Committee tomorrow. The US military has deployed Typhon missile systems to Japan’s Yamaguchi Prefecture and Zambales province in the Philippines during their joint military exercises. It has also installed NMESIS anti-ship systems in Japan’s Okinawa
TRAGEDY STRIKES TAIPEI: The suspect died after falling off a building after he threw smoke grenades into Taipei Main Station and went on a killing spree in Zhongshan A 27-year-old suspect allegedly threw smoke grenades in Taipei Main Station and then proceeded to Zhongshan MRT Station in a random killing spree that resulted in the death of the suspect and two other civilians, and seven injured, including one in critical condition, as of press time last night. The suspect, identified as a man surnamed Chang Wen (張文), allegedly began the attack at Taipei Main Station, the Taipei Fire Department said, adding that it received a report at 5:24pm that smoke grenades had been thrown in the station. One man in his 50s was rushed to hospital after a cardiac arrest
ON ALERT: Taiwan’s partners would issue warnings if China attempted to use Interpol to target Taiwanese, and the global body has mechanisms to prevent it, an official said China has stationed two to four people specializing in Taiwan affairs at its embassies in several democratic countries to monitor and harass Taiwanese, actions that the host nations would not tolerate, National Security Bureau (NSB) Director-General Tsai Ming-yen (蔡明彥) said yesterday. Tsai made the comments at a meeting of the legislature’s Foreign Affairs and National Defense Committee, which asked him and Minister of National Defense Wellington Koo (顧立雄) to report on potential conflicts in the Taiwan Strait and military preparedness. Democratic Progressive Party (DPP) Legislator Michelle Lin (林楚茵) expressed concern that Beijing has posted personnel from China’s Taiwan Affairs Office to its
PUBLIC SAFETY: The premier said that security would be tightened in transport hubs, while President Lai commended the public for their bravery The government is to deploy more police, including rapid response units, in crowded public areas to ensure a swift response to any threats, President William Lai (賴清德) said yesterday after a knife attack killed three people and injured 11 in Taipei the previous day. Lai made the remarks following a briefing by the National Police Agency on the progress of the investigation, saying that the attack underscored the importance of cooperation in public security between the central and local governments. The attack unfolded in the early evening on Friday around Taipei Main Station’s M7 exit and later near the Taipei MRT’s Zhongshan
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