European stocks rose for a second day before the euro-area central bank’s interest rate decision and the release of the U.S. Federal Reserve’s anecdotal survey of the economy. U.S. index futures and Asian shares also advanced. Diageo Plc (DGE), the maker of Johnnie Walker, J&B and Buchanan’s Scotch whiskys, rose 1.5 percent after saying it will invest 1 billion pounds ($1.54 billion) in production. Petropavlovsk Plc gained 6.4 percent after UBS AG recommended increasing holdings of the stock.
The Stoxx Europe 600 Index (SXXP) added 1.5 percent, the most since May 22, to 238.1 at 9:21 a.m. in London. The benchmark has declined 13 percent from its 2012 high on March 16 amid growing concern that Greece will be forced to leave the euro currency union. Standard & Poor’s 500 Index futures gained 1 percent, while the MSCI Asia Pacific Index added 1.2 percent.
SABIC contributes to national development
The Saudi Basic Industries Corporation (SABIC) sponsored the Industrial Innovation Award which was presented to developers of new ideas for industrial projects at a ceremony held in Riyadh on May 18.