Prime movers dancer The s FTSE

Prime movers dancer

The s FTSE 100 climbed 7 percent and Germany s DAX rose 4 percent. France s CAC 40 increased 2 percent. BlueBay rallied 30 percent to 487 pence after the London based manager of fixed-income funds agreed to be bought by RBC for about 963 million pounds 5 billion. Rivals Ashmore Group Plc, a fund manager that focuses on emerging markets, and Henderson Group Plc, which owns New Star Asset Management Group Plc, climbed 5 percent to 6 pence and 7 percent to 6 pence, respectively. Man Group Plc, the world s largest publicly traded hedge-fund manager, advanced 2 percent to 9 pence. Credit Suisse, the second-largest Swiss bank, led a measure of lenders higher, rising 4 percent to 99 francs. Societe Generale SA climbed 2 percent to 36 euros and Lloyds Banking Group Plc gained 9 percent to 2 pence. Citigroup, the bank 12 percent-owned by taxpayers, today said third-quarter net income surged to 17 billion, beating analysts projections as the company reduced loan-loss reserves by 99 billion. Euro-region interbank borrowing costs rose to the same level as the European Central Bank s main interest rate for the first time in 15 months today, signaling greater willingness by financial institutions to lend to one another. The increase in Euribor suggests more banks are weaning themselves off ECB liquidity programs that were started to fight the global recession and then extended as the Greek debt crisis fueled concern some nations in the region could default. Nexans SA climbed 3 percent to 36 euros as the world s biggest maker of cables started talks to buy Dutch rival Draka Holding NV for about 731 million euros 1 billion. Draka shares added 7 percent to 57 euros. Negotiations will focus on a recommended cash offer of 15 euros a share, Paris-based Nexans said today. Flint Beheer NV, Draka s main shareholder with 5 percent, has pledged its stake, subject to conditions, it said. Air France-KLM Group rose 9 percent to 66 euros, the highest price since April, as France s largest airline was raised to buy from hold at Citigroup. Nobel Biocare Holding AG surged 5 percent to 84 francs as Helvea AG recommended buying shares of the world s biggest maker of dental implants. Bellway Plc, a homebuilder specializing in first-time buyers, increased 6 percent to 60 5 pence, while Persimmon Plc, the s third-largest homebuilder by volume, climbed 2 percent to 2 pence. Taylor Wimpey Plc rallied 2 percent to 11 pence. London home sellers raised asking prices by the most in six months in October as owners across the brushed off the challenges posed by the biggest fiscal squeeze since World War II, Rightmove Plc said. BHP Billiton slipped 6 percent to 2, 5 pence and Rio Tinto retreated 5 percent to 4, 080 pence, dragging a measure of basic-resources producers to the biggest drop among 19 industry groups in the Stoxx 6 The world s No. 1 and No. 3 mining companies abandoned a plan to create the largest iron-ore exporter after regulators from Europe to Asia were concerned it would limit competition.