Pursuits
European Shares Post Biggest Advance in a Month; UniCredit Jumps
- Novartis gains after U.K. authority backs cancer treatment
- Ladbrokes surges on provisional go-ahead for Coral takeover
Euro Area PMI Strengthens, Pound Uncertainty Lingers
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European shares rose the most in a month as investors shrugged off concerns that a Federal Reserve rate increase as early as June will derail the U.S. economic recovery.
Novartis AG climbed 1.8 percent after the U.K. affirmed its backing of a cancer treatment, helping a measure of health companies post the best performance of the 19 industry groups on the Stoxx Europe 600 Index. UniCredit SpA added 7.6 percent, leading gains among banks, after people familiar with the matter said it may sell a stake in its online broker FinecoBank SpA and review holdings in Poland and Turkey to raise capital.