European Stocks Climb as Alstom, ING Earnings Exceed Estimates

Bloomberg (06/11) -- European stocks climbed after companies from Alstom SA to ING Groep NV posted earnings that beat analysts’ estimates, and as industrial data from Germany and the U.K. pointed to an improving economy.Alstom gained the most in almost a year after posting operating profit that exceeded estimates and saying it will seek to raise as much as 2 billion euros ($2.7 billion) from asset sales. ING jumped 3.5 percent after net income beat projections. Adecco SA rose 4 percent after the world’s largest provider of temporary workers predicted that demand for flexible labor will increase in Europe as the economy recovers.The Stoxx Europe 600 Index added 0.4 percent to 323.2 at 3:34 p.m. in London. The equity benchmark has rallied 16 percent so far in 2013, its best performance since 2009.A report from the Office for National Statistics showed U.K. industrial production rose 0.9 percent in September, rebounding from its biggest decline in almost a year and exceeding the median forecast for growth of 0.6 percent.