Europe Stocks Rise as Gold Falls With Bonds; Ruble Gains

Frankfurt (Apr 29)  European stocks rose for a second day as Deutsche Bank AG’s earnings beat estimates and Nokia Oyj forecast higher network sales. Bonds fell as gold trimmed this month’s gains, while Russian shares advanced with the ruble.

The Stoxx Europe 600 Index climbed 0.8 percent at 7:21 a.m. in New York. Standard & Poor’s 500 Index futures advanced 0.3 percent. Italian 10-year yields increased three basis points to 3.16 percent and the yen weakened against all of its 16 major peers. Russia’s Micex Index climbed 1.1 percent and the ruble strengthened for a second day. Gold fell 0.5 percent.

Deutsche Bank reported trading revenue that beat projections. Nokia, which named Rajeev Suri as chief executive officer, said network sales will rise in the second half. The U.S. and the European Union stepped up sanctions against Russia yesterday. EBay Inc. and U.S. Steel Corp. are among companies reporting earnings today as the Federal Reserve begins a two-day policy meeting.

“There were a lot of earnings reports,” Ricciardo Ricciardelli, founder and managing director at Feroc Capital in Dubai, said by telephone. “Most of the figures were fine. Ukraine is definitely one of the big challenges to stability, but the markets haven’t adjusted for the implications of a real conflict.”

Five shares advanced for every one that declined in the Stoxx 600, with trading volumes 20 percent lower than the 30-day average, according to data compiled by Bloomberg. All but one of the 19 industry groups rose, led by technology and banking stocks.