Markets rise as investors weigh US data

The Stoxx Europe 600 Index added 0.2 per cent to 313.2 at the close yesterday. The equity benchmark has climbed 5.3 per cent in September, extending its rally this year to 12 per cent, as the Federal Reserve in the US refrained from reducing its monthly bond buying. The gauge has risen 9.9 per cent in the current quarter, on course for its biggest gain in four years.

The UK's FTSE 100 increased 0.2 per cent and Germany's DAX added 0.3 per cent, while France's CAC 40 climbed 0.6 per cent. The Iseq in Dublin increased 0.4 per cent, extending its fifth straight quarterly advance.

DUBLIN
The main risers on the day were Ryanair, which closed up 1.9 per cent at €6.42 while ferry operator Irish Continental Group finished 1.63 per cent higher at €24.90.

It was a different story for Aer Lingus, which fell by 3 per cent to €1.51. The airline is under pressure on profits and facing greater competition from Ryanair as they both seek to fill their planes in the current dour economic climate.

Food firm Aryzta, which has its main listing in Switzerland, was down 0.67 per cent at €48.20. It is due to publish its full-year results on Monday with Davy forecasting earnings before interest, tax, and amortisation of €401.8 million, which would represent a 7.2 per cent year-on-year rise.

The Green REIT property play was down 2.9 per cent at €1.19.

LONDON
UK stocks advanced, rebounding from a two-week low, as investors weighed conflicting US data to assess the pace of the recovery in the world's biggest economy and the outlook for stimulus.

Euromoney Institutional Investor Plc rallied 9.3 per cent after forecasting a rise in annual pretax profit and sales.

Barclays Plc and Royal Bank of Scotland Group Plc rose 1.9 per cent. Premier Foods Plc lost 2.9 per cent after its chief financial officer, Mark Moran, resigned.

Amec Plc slipped 1.5 per cent as UBS AG downgraded the oilfield-services company.

The FTSE 100 added 14.09 points, or 0.2 per cent, to 6,571.46 at the close of trading in London. The gauge has risen 2.5 per cent in September, extending its gains this quarter to 5.7 per cent, as the Federal Reserve refrained from reducing its monthly asset purchases until its sees more evidence of sustained improvement in the US economy.

The FTSE 100 has rallied 11 per cent so far in 2013. The FTSE All-Share Index gained 0.3 per cent yesterday.

EUROPE
European stocks advanced, following a two-day decline, as telecommunications companies climbed, outweighing US consumer confidence and regional manufacturing reports that trailed economists' estimates.

Telecom Italia SpA gained 1.7 per cent as Telefonica SA agreed to increase its stake in the phone operator.

Nokia Oyj added 2.4 per cent after a US judge found that HTC Corp violated two of its patents.

Total SA climbed 2.6 per cent after Barclays Plc raised its rating on the oil producer.

Burckhardt Compression Holding AG slid 7.3 per cent after saying fiscal first-half net income will decline from the year -earlier period.

US
US stocks rose, snapping a three-day drop in the Standard and Poor's 500 Index, as data showing a drop in consumer confidence was overshadowed by US president Barack Obama's comments that eased concern over Middle East tensions.

Homebuilders gained 4 percent as a group after data showed home prices increased by the most in more than seven years and Lennar Corp's profit beat analyst estimates.

Applied Materials Inc advanced 7.3 per cent after agreeing to buy Tokyo Electron Ltd for about $9.39 billion in stock. Red Hat Inc slumped 11 per cent after second-quarter billings at the largest seller of the Linux operating system trailed estimates. – (Additional reporting: Bloomberg)