European Stocks Climb Amid Airbus Earnings, U.S. Confidence Data

European stocks advanced, extending their highest level since 2007, amid better-than-expected financial results from companies including Airbus Group NV, and U.S. consumer sentiment data.

The Stoxx Europe 600 Index rose 0.4 percent to 392.21 at the close of trading. Shares earlier fell as much as 0.3 percent, before advancing as a report showed the University of Michigan final index of sentiment fell this month less than analysts estimated. The Stoxx 600 rallied 6.9 percent in February, pushing gains this year to 15 percent, as Greece reached a bailout deal and the European Central Bank announced quantitative easing.

Airbus advanced 7.2 percent. The European aerospace company reported a 15 percent gain in annual profit after increasing commercial plane deliveries. It also said it would boost monthly production of its A320 single-aisle aircraft to 50 a month by 2017.

Sika AG climbed 2.4 percent. The Swiss adhesives maker resisting a takeover by Cie. de Saint-Gobain SA reported full-year earnings that beat analyst estimates, helped by sales growth in all regions and demand for its mortar business.

Source: Bloomber