European Stocks Extend Gains as ECB Coordinates With Fed to Lend Dollars

By Sarah Jones - Sep 15, 2011 8:05 PM GMT+0700

European stocks extended their advance as the European Central Bank said it will lend the region’s banks dollars to ensure they have enough of the currency through the end of the year.

The benchmark Stoxx Europe 600 Index advanced 2 percent to 228.62 at 2:04 p.m. in London, extending its three-day increase to 4.4 percent. The gauge has still fallen 21 percent from this year’s peak on Feb. 17 as the region’s growing debt crisis and worse-than-forecast U.S. economic reports added to concern that the global recovery is at risk.

To contact the reporter on this story: Sarah Jones in London at sjones35@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer in London at arummer@bloomberg.net