European stocks rose for the first time in four days, as bargain hunters showed some interest in beaten down shares.
Markets withstood troubling news from Germany ahead of tomorrow's pivotal EU summit, as Chancellor Angela Merkel warned that euro bonds will not be considered. Analysts say European leaders are running short on time to solve the region's simmering sovereign debt crisis.
The Bank of Spain said in its monthly bulletin that Spain's recession would intensify in the second quarter, suggesting that the activity has continued declining at a faster rate.
The Euro Stoxx 50 benchmark index of European stocks rose 1.77 percent to 2,165.
E.ON added 3 percent. HSBC raised E.ON to "Overweight" from "Neutral."
Several brokerages lowered their ratings on Infineon. The stock lost 2.2 percent.
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org