European stocks rose, rebounding from their biggest decline in almost two weeks, amid speculation that economic data will improve and as Portugal’s politicians reached an agreement to hold the governing coalition together.

In Portugal, Prime Minister Pedro Passos Coelho proposed that Paulo Portas, leader of the junior party in the governing coalition, become vice premier. The appointment helps cement a deal to hold the coalition together. Portugal’s PSI 20 Index retreated 2.7 percent last week when Portas resigned after Coelho appointed a new finance minister.

Euro-area finance ministers meeting in Brussels discussed Greece’s progress in meeting the conditions needed to obtain further aid from the International Monetary Fund, European Central Bank and European Commission.

Approval of an agreement at the meeting of euro-area finance ministers in Brussels would allow Greece, which has been unable to tap bond markets since 2010, to obtain a loan of 8.1 billion euros ($10.4 billion).

In Germany, a report showed that industrial production declined 1 percent in May, more than the 0.5 percent drop, which was the median forecast of 38 economists in a Bloomberg News survey. It surged a revised 2 percent in April.

National benchmark indexes advanced in all 18 western-European markets today. France’s CAC 40 gained 1.9 percent and Germany’s DAX climbed 2.1 percent. The U.K.’s FTSE 100 added 1.2 percent. The PSI 20 rallied 2.3 percent.

Novartis climbed 1.3 percent to 68.50 Swiss francs as the company said its secukinumab drug proved better at clearing the skin of people with plaque psoriasis than Enbrel.

Lloyds advanced 3.8 percent to 67.1 pence. Former Standard Chartered Chairman Mervyn Davies is assembling a group of investors to bid for part of the U.K. government’s 39 percent stake in the lender, according to a person with knowledge of the talks. The group has yet to reach an agreement with the Treasury, the person added.

Bovis Homes Group Plc jumped 7.1 percent to 830 pence after the U.K. housebuilder said that increased volume and higher margins led to a bigger profit in the first half. The company said it will probably report a housing gross margin of about 23 percent, compared with 20.9 percent a year earlier.

Hikma Pharmaceuticals Plc surged 5.6 percent to 1,050 pence, the highest price since its initial public offering in November 2005, after the company raised its full-year revenue forecast. It predicted that revenue will grow by 17 percent in 2013, compared with a previous projection of 13 percent.

U.S. stock futures rose as investors awaited on starts of second-quarter earnings season which kicks off with results after the close from aluminum producer Alcoa (AA).

Global Stocks:

Nikkei  14,109.34 -200.63 -1.40%

Hang Seng 20,582.19 -272.48 -1.31%

Shanghai Composite 1,958.27 -48.93 -2.44%

FTSE 6,460.05 +84.53 +1.33%

CAC 3,827.96 +74.11 +1.97%

DAX 7,990.84 +184.84 +2.37%

Crude oil $102.29 -0.90%

Gold $1232.60 +1.64%

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European stocks rose, rebounding from their biggest decline in almost two weeks, amid speculation that economic data will improve and as Portugal’s politicians reached an agreement to hold the governing coalition together. U.S. index futures gained and Asian shares fell.

The Stoxx 600 increased 1.4 percent to 292.26 at 11:10 a.m. in London. Standard & Poor’s 500 Index futures added 0.6 percent after the equity benchmark rose 1 percent on July 5 after a better-than-forecast payrolls report.

In Portugal, Prime Minister Pedro Passos Coelho proposed that Paulo Portas, leader of the junior party in the governing coalition, become vice premier. The appointment helps cement a deal to hold the coalition together. Portugal’s PSI 20 Index retreated 2.7 percent last week when Portas resigned after Coelho appointed a new finance minister.

ECB President Mario Draghi speaks at the quarterly hearing of the Committee on Economic and Monetary Affairs of the European Parliament at 3 p.m. in Brussels.

In Germany, a report showed that industrial production declined 1 percent in May, more than the 0.5 percent drop, which was the median forecast of economists in. It surged a revised 2 percent in April.

Novartis climbed 1.7 percent to 68.75 Swiss francs, contributing the most to the Stoxx 600’s gain, as the company said its secukinumab drug proved better at clearing the skin of people with plaque psoriasis than Enbrel.

Lloyds Banking Group Plc advanced 2.7 percent to 66.4 pence. Former Standard Chartered Chairman Mervyn Davies is assembling a group of investors to bid for part of the U.K. government’s 39 percent stake in the lender, according to a person with knowledge of the talks. The group has yet to reach an agreement with the Treasury, the person added.

Bovis Homes advanced 4.6 percent to 810.5 pence after the U.K. housebuilder said that increased volume and higher margins led to a bigger profit in the first half. The company said it will probably report a housing gross margin of about 23 percent, compared with 20.9 percent a year earlier.

Hikma Pharmaceuticals Plc surged 8 percent to 1,073 pence, its highest price since at least November 2005, after the company raised its full-year revenue forecast. It predicted that group revenue will grow by about 17 percent in 2013, compared with a previous projection of about 13 percent.

FTSE 100 6,437.26 +61.74 +0.97%    

CAC 40 3,821.48 +67.63 +1.80%       

DAX 7,977.21 +171.21 +2.19%  

Asian stocks dropped the most in two weeks amid concern a credit squeeze in China will curb growth and after a better-than-forecast U.S. jobs report fueled concern that the Federal Reserve may begin reducing stimulus this year.

Nikkei 225 14,109.34 -200.63 -1.40%

Hang Seng 20,601.75 -252.92 -1.21%

S&P/ASX 200 4,809.5 -32.25 -0.67%

Shanghai Composite 1,958.27 -48.93 -2.44%

BHP Billiton Ltd., the world’s biggest mining company, fell 2.1 percent in Sydney as metals prices retreated the most in two months.

Asiana Airlines Inc. tumbled 5.8 percent in Seoul after one of its planes crashed at San Francisco International Airport.

Zijin Mining Group Co. dropped 7 percent in Hong Kong after China’s biggest gold miner by market value said profit may slump as much as 55 percent.