Europe Stocks Rise as Credit Agricole, Schneider Gain on Results

European stocks climbed for the third time in four days as investors assessed better-than-estimated earnings from companies including Credit Agricole SA and Schneider Electric SE.

Credit Agricole SA gained 4.9 percent after also saying it will sell back stakes in regional banks to shore up capital. Schneider Electric SE added 4.9 after saying it will buy back 1.5 billion euros ($ 1.7 billion) in shares. Total SA dropped 2.6 percent, leading energy shares lower, after a shareholder sold a stake.

The Stoxx Europe 600 Index added 0.6 percent at 8:21 a.m. in London. The benchmark is rising after yesterday snapping its biggest two-day advance since 2011 amid declines in lenders and miners.

Volatility has been on the rise since the start of the year amid a deepening oil rout, concern over global-growth prospects and dissipating faith in central-bank support.

Among other stocks active on corporate news, Glencore Plc rose 3.5 percent after the Swiss commodities trader and miner said it signed new loan commitments. Marine Harvest ASA added 1.7 percent after its net income beat estimates.

Source: Bloomberg

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