European stocks climbed as European Central Bank President Mario Draghi reiterated that interest rates will stay low for an extended period, while the Federal Reserve said it saw a modest to moderate U.S. economic recovery.

The ECB today kept its benchmark interest rate unchanged at a record low after the 17-nation euro area returned to growth in the second quarter.

The euro-area economy expanded 0.3 percent in the three months through June. Recent economic indicators point to a further recovery in the second half as an index of services and factory output climbed to the highest level since June 2011 and economic confidence soared to a two-year high.

Bank of England officials left their bond-buying program unchanged today at 375 billion pounds ($586 billion), as forecast by all 38 economists in a survey. They also kept the key interest rate at a record low 0.5 percent.

National benchmark indexes advanced in 16 of the 18 western European markets today. France’s CAC 40 gained 0.7 percent, while Germany’s DAX added 0.5 percent. The U.K.’s FTSE 100 climbed 0.9 percent.

Peugeot, Europe’s second-biggest automaker, rose 5.4 percent to 11.24 euros. CEO Philippe Varin forecast an increase in market share in the third quarter, according to an interview with Le Parisien.

A gauge of auto-related companies posted the largest gain of the 19 industry groups on the Stoxx 600. Bayerische Motoren Werke AG, the biggest maker of luxury cars, added 6 percent to 76.97 euros, its highest price since at least 1992. Volkswagen AG, Europe’s largest automaker, climbed 1.2 percent to 172 euros. Renault SA advanced 5.8 percent to 56.50 euros.

Telecom Italia jumped 8.4 percent to 60.7 euro cents. La Repubblica reported that Sawiris may buy a stake in the phone company. The newspaper didn’t cite anyone.

TeliaSonera slid 1.9 percent to 47.56 Swedish kronor. Solidium Oy, Finland’s equity-asset manager, sold 1.6 percent of shares in the Stockholm-based company in an accelerated book building to institutional investors, it said in a statement.

Aker Solutions ASA slipped 1.6 percent to 91.50 Norwegian kroner. Nomura Holdings Inc. downgraded the oil services group controlled by billionaire Kjell Inge Roekke to reduce, similar to a sell rating, from buy.

U.S. stock futures were little changed as investors weighed reports showing jobless claims fell more than forecast and disappointing growth in private payrolls.

Global Stocks:

Nikkei  14,064.82 +10.95 +0.08%

Hang Seng 22,597.97 +271.75 +1.22%

Shanghai Composite 2,122.43 -5.19 -0.24%

FTSE  6,515.16 +40.42 +0.62%

CAC  4,005 +24.58 +0.62%

DAX 8,224.22 +28.30 +0.35%

Crude oil $107.56 +0.31%

Gold $1390.20 +0.01%

Upgrades:

Downgrades:

Other:

Caterpillar (CAT) initiated at Equal-Weight at Morgan Stanley.

European stocks were little changed as investors awaited central-bank meetings, and as the Federal Reserve said it saw a modest to moderate recovery in the world’s biggest economy. U.S. stock futures and Asian shares were also little changed.

The Stoxx Europe 600 Index fell 0.1 percent to 301.93 at 10:51 a.m. in London. The gauge lost 2.4 percent last week on concern the U.S. and its allies would take military action against Syria after chemical-weapon attacks that President Barack Obama’s administration said killed more than 1,400 people.

The euro-area economy expanded 0.3 percent in the three months through June. Recent economic indicators point to a further recovery in the second half as an index of services and factory output climbed to the highest level since June 2011 and economic confidence soared to a two-year high.

Rate Decisions

Policy makers meeting in Frankfurt today will keep the European Central Bank’s benchmark interest rate unchanged at a record low of 0.5 percent, according to economists in survey. The central bank will announce its interest-rate decision at 1:45 p.m. and President Mario Draghi will hold a press conference 45 minutes later.

The Bank of England will keep its quantitative-easing program at 375 billion pounds ($585 billion) and hold the benchmark rate at a low of 0.5 percent, according to separate surveys of economists. That decision is due at noon in London.

The Senate Foreign Relations Committee voted to authorize Obama to conduct a limited U.S. military operation in Syria, the first step toward congressional endorsement of the effort. The full Senate is expected to consider the resolution on Sept. 9.

Aker slid 2.8 percent to 90.40 kroner. Nomura cut its rating on the oil services group controlled by billionaire Kjell Inge Roekke to reduce from buy.

Altran Technologies (ALT) slid 5.5 percent to 5.48 euros as it reported net income for the first half of this year of 15.1 million euros ($19.9 million), compared with 30.3 million euros a year earlier. The engineering and technology consulting company forecast a “much brighter” second half and said that it is confident of reaching its 2015 targets.

Schweizerische National-Versicherungs-Gesellschaft AG (NATN), a provider of insurance products, lost 2.1 percent to 42.45 Swiss francs after it reported first-half net income fell to 53 million francs ($56 million) from 56.6 million francs last year.

Peugeot (UG), Europe’s second-biggest automaker, rose 2.4 percent to 10.93 euros. CEO Philippe Varin forecast an increase in market share in the third quarter, according to an interview with Le Parisien.

FTSE 100 6,484.59 +9.85 +0.15%

CAC 40 3,983.89 +3.47 +0.09%

DAX 8,191.3 -4.62 -0.06%

Asian stocks rose for a sixth day, the longest streak of gains in nine months, as shipping lines surged and the Federal Reserve said it saw a moderate recovery in the world’s biggest economy.

Nikkei 225 14,064.82 +10.95 +0.08%

Hang Seng Closed 22,596.63 +270.41 +1.21%

S&P/ASX 200 5,142.51 -19.12 -0.37%

Shanghai Composite 2,122.43 -5.19 -0.24%

Honda Motor Co. led Japanese carmakers higher, advancing 2.3 percent after Asia-based auto manufacturers recorded their best-ever month for U.S. sales.

Shippers gained from Hong Kong to Tokyo as a measure of freight prices reached its highest in 21 months.

BHP Billiton Ltd., the world’s largest mining company, sank 0.7 percent after metals fell yesterday in London for the sixth time in seven days.

Nikkei 225 14,053.87 75,43 0,54%

Hang Seng 22,324.22 -70,36 -0,31%

S & P / ASX 200 5,161.64 -34,93 -0,67%

Shanghai Composite 2,127.62 4,51 0,21%

FTSE 100 6,474.74 +6.33 +0.10%

CAC 40 3,980.42 +6.35 +0.16%

DAX 8,195.92 +15.21 +0.19%

DJIA 14,930.90 96.91 0.65%

S&P 500 1,652.45 12.68 0.77%

NASDAQ 3,649.04 36.43 1.01%