Bloomberg: Stocks gained for a third day in Europe and Asia as France said it will invest $14 billion in banks and the U.S. moved toward a second stimulus package. U.S. index futures declined after Texas Instruments Inc. predicted earnings that missed analysts’ estimates.
Societe Generale SA and BNP Paribas SA climbed more than 8 per cent as the French government said it will buy subordinated debt issued by the country’s six biggest banks. ABB Ltd. jumped 4.5 per cent and CRH Plc rose 7 per cent after the Bush administration withdrew its opposition to the idea of a new stimulus.
The MSCI World Index added 0.6 per cent to 995.78 at 10:41 a.m. in London. The gauge jumped 4.4 per cent last week, its biggest gain on record, as governments injected $2 trillion to bail out banks and stabilise the financial system…
Europe’s Dow Jones Stoxx 600 Index advanced 1.2 per cent, headed for its longest winning streak since August. The MSCI Asia Pacific Index jumped 2.1 per cent, having its longest streak of gains in three month. Futures on the Standard & Poor’s 500 Index slipped 0.9 per cent.