European stocks rose for the first time in four days amid optimism that U.S. lawmakers will agree on a budget. U.S. index futures and Asian shares also advanced.

U.S. President Barack Obama, who met Republican House Speaker John Boehner at the White House yesterday, softened his stance on the budget. He lowered his demand for new tax revenue by $200 billion and offered to increase taxes starting from incomes of $400,000 rather than

In China, policy makers set an initial target for economic growth at 7.5 percent for a second year, two bank executives and a regulator official briefed on the matter said. BHP Billiton, the world’s largest mining company, gained 1.5 percent to 2,157 pence, while Rio Tinto Group, the second largest, advanced 0.9 percent to 3,502.5 pence.

Imagination Technologies Group Plc climbed 2.6 percent to 393.5 pence. The U.K. maker of chip technology for tablets and smart phones has probably bought MIPS Technologies Inc.’s operating businesses, as Ceva Inc. hasn’t make a counter bid, JPMorgan Chase & Co. analyst Sandeep Deshpande wrote in a note.

FTSE 100 5,925.93 +13.78 +0.23%

CAC 40 3,632.4 -5.70 -0.16%

DAX 7,627.06 +22.12 +0.29%