European (SXXP) stocks advanced after Spain and Italy sold debt at lower borrowing costs, signaling continued investor appetite for euro-area securities. U.S. index futures climbed, while Asian shares retreated.

Royal Bank of Scotland Group Plc rose 7.4 percent after announcing job cuts. Sulzer (SUN) AG, the world’s second-largest maker of pumps, added 5.8 percent after saying full-year orders increased 14 percent. Tesco Plc led retail shares lower after the U.K.’s largest supermarket chain said it was “disappointed” with festive trading. Vestas Wind Systems A/S and Delhaize Group SA (DELB) tumbled.

The Stoxx Europe 600 Index gained 0.6 percent to 251.43 at 10:51 a.m. in London, after the U.S. Federal Reserve yesterday confirmed the world’s largest economy continues to grow. The March contract on the Standard & Poor’s 500 Index increased 0.4 percent. The MSCI Asia Pacific Index lost 0.2 percent.

“The debt sales in Italy and Spain are important elements for the market,” said Bruno Ducros, a fund manager at CamGestion in Paris, which oversees about $3.8 billion in stocks. “The Fed’s confirming of U.S. growth is good news. It is a relief for the market and eases worries of a slowdown in the U.S. The market is looking for zones of growth.”
Bond Auctions

Spain sold 9.98 billion euros ($12.7 billion) of bonds maturing in 2015 and 2016, including a new three-year benchmark security, twice the maximum target of 5 billion euros set for the sale. The yield on the three-year notes was 3.384 percent, compared with 5.187 percent when the nation sold similar notes in December.

For more visit: Bloomberg.com

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