- European stocks rallied as the deadline on Greece’s debt swap approached and Germany’s industrial output increased more than forecast.
Market news
European stocks rallied as the deadline on Greece’s debt swap approached and Germany’s industrial output increased more than forecast.
In Germany, industrial output increased more than economists forecast in January as construction activity jumped. Production rose 1.6 percent from December, when it fell 2.6 percent, the Economy Ministry in Berlin said today. Economists forecast a January increase of 1.1 percent.
EADS surged 11 percent, the highest price since May 2006. The maker of Airbus passenger jets agreed to pay a dividend of 45 cents a share, more than exceeding analyst. Earnings before interest, taxes and one-time items will increase to more than 2.5 billion euros in 2012, from 1.8 billion euros last year, EADS said.
Scania AB and Volvo AB rose 6.9 percent and 4.7 percent, respectively, after JPMorgan Chase & Co. named the Swedish truckmakers among its top picks.
Deutsche Post AG advanced 5.7 percent. Europe’s largest postal service said profit in 2012 will rise as much as 6.6 percent.
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