By Carla Mozee, MarketWatch
LONDON (MarketWatch) -- European stocks pushed higher Tuesday,
getting a lift from oil stocks and a handful of banks, but
advertising heavyweight Publicis Groupe SA fell following a sales
warning.
The pan-European Stoxx Europe 600 index rose 1.3% to 342.44, its
first advance in four sessions. Equities extended gains after as
U.S. stocks advanced near record highs in after
stronger-than-expected U.S. sales of existing homes in June.
Topping gainers on the Stoxx 600 was IG Group Holdings PLC.
Shares jumped 7.7% after the U.K. spread-betting and
derivatives-trading-services provider said its full-year profit
rose even as it reported a "subdued backdrop" late in the year.
ARM Holdings shares climbed 5.7% after the computer-chip
designer said second-quarter profit rose on higher chip shipments
and licensing revenue.
Overall, the U.K.'s FTSE 100 index tacked on 1% to 6,795.34, its
highest close in two weeks.
Oil was the best-performing sector, led by France's Total SA ,
which climbed 3.1%. Italy's Eni SpA added 2.4%, and BP PLC tacked
on 1.3%.
The banking sector also rose. HSBC Holdings PLC (HSBC) added
1.3%, and Banco Santander SA (SAN) advanced 2.1%. But Credit Suisse
Group (CS) fell 1% after the Zurich-based bank posted a
larger-than-expected second-quarter loss stemming from a U.S. legal
settlement reached two months ago.
Leading Stoxx 600 decliners was Publicis Groupe SA . Shares fell
4.7% after Chief Executive Maurice Lévy said the company may not
reach its full-year sales-growth target. The company also reported
a decline in profit and lower-than-expected sales growth for the
first half of the year.
In Paris, the CAC 40 index rose 1.5% to 4,369.52. Germany's DAX
30 index rose 1.3% to 9,734.33, marking its first gain in four
sessions.
Russian stocks logged their first gain in seven sessions.
Russia's blue-chips MICEX Index picked up 1.6% to close at
1,405.97. State-run airline Aeroflot climbed 3.3% and oil firm
Rosneft added 0.4%.
European Union foreign ministers held a meeting in Brussels on
Tuesday to discuss imposing tougher sanctions against Russia
following the downing a Malaysia Airlines passenger flight last
week that killed all 298 passengers and crew members.
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