European stocks climbed for the first time in three days as Lloyds Banking Group Plc led bank gains after posting earnings, and energy shares advanced.
Lloyds jumped 9.3 percent after raising its dividend and introducing a special payment. NN Group NV climbed 6.3 percent after quarterly earnings jumped 82 percent. RSA Insurance Group Plc rallied 6.4 percent after saying operating profit rose 43 percent last year.
The Stoxx Europe 600 Index added 1.2 percent at 8:16 a.m. in London. Total SA and Royal Dutch Shell Plc advanced 1.9 percent or more, pushing energy shares up for the first time in three days. U.S. stocks rebounded yesterday, reversing declines after European markets closed, as technology and commodity shares rallied.
Europe’s equity gauge has been particularly volatile this year on concern over China’s slowdown, routs in banks and oil, and dissipating faith in central-bank support. After reaching a three-week high on Monday amid a rally in miners, the Stoxx 600 fell for the next two days as sliding oil prices stoked reignited global-growth worries. It hasn’t posted back-to-back gains since December.
The U.K.’s FTSE 100 Index posted the biggest gain among western-European markets today. Gains in Lloyds and RSA pushed the benchmark up 1.6 percent.
Among other shares active on corporate news, Anheuser-Busch InBev NV dropped 1.3 percent after the brewer’s quarterly earnings missed estimates. Zodiac Aerospace tumbled 23 percent after forecasting a recovery will take longer than the 18 months initially planned and saying it won’t meet its full-year operating margin target.