By Julie Cruz - Dec 13, 2011 11:11 PM GMT+0700
European stocks pared their gains as banks and insurance companies dropped.
The Stoxx Europe 600 Index rose 0.1 percent to 236.29 at 4:10 p.m. in London, paring an earlier advance of as much as 1.2 percent. The gauge has still declined 14 percent this year amid concern the euro area’s sovereign-debt debt crisis will derail the global economic recovery.
Stocks pared their advance as Reuters reported that German Chancellor Angela Merkel rejected increasing the upper limit for the funds held by Europe’s planned permanent rescue facility. The report cited sources in the country’s ruling coalition.
To contact the reporter on this story: Julie Cruz in Frankfurt at jcruz6@bloomberg.net
To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net
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