European stocks surged to a four- week high after Spain sought as much as 100 billion euros ($126 billion) to save its banking system and Chinese export data topped forecasts. U.S. index futures and Asian shares gained.
Banco Santander (SAN) SA and Banco Bilbao Vizcaya Argentaria SA, Spain’s two biggest lenders, jumped in Madrid. Telefonica SA advanced after it agreed to sell almost half of its stake in China Unicom (Hong Kong) Ltd. for about 1.13 billion euros to help reduce debt. BHP Billiton Ltd. (BLT) climbed with copper.
The Stoxx Europe 600 Index gained 1.7 percent to 246.04 at 9:35 a.m. in London, extending last week’s 2.9 percent advance. Standard & Poor’s 500 Index futures increased 0.9 percent and the MSCI Asia Pacific Index gained 1.9 percent.
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