European and Asian stocks rose, resuming a six-month rally for the MSCI World Index, amid signs the global economy is recovering. U.S. futures advanced. Carnival Corp. gained 2.7 percent in London after Bank of America Corp. added the world’s biggest cruise-line operator to its “Europe 1” list. Samsung Electronics Co. rose 3.4 percent in Seoul after Citigroup Inc. lifted its price estimate and chip prices climbed to their highest level in more than a year. STMicroelectronics NV, Europe’s largest semiconductor maker, added 3.1 percent. The MSCI World added 0.7 percent at 8:26 a.m. in London. The index has advanced 65 percent since March 9 as results at companies from HSBC Holdings Plc to GlaxoSmithKline Plc surpassed projections and the German and French economies unexpectedly exited recessions. The gauge is valued at more than 27 times the reported earnings of its companies, the most expensive level since 2003, weekly data compiled by Bloomberg show. The Asian Development Bank said regional economies will expand at a faster-than-expected pace this year, boosting demand for emerging-market investments. Asia, excluding Japan, will grow 3.9 percent in 2009, faster than a March estimate of 3.4 percent, the bank said. Growth may strengthen in 2010 to 6.4 percent. U.S., Asian Shares U.S. stocks fell yesterday, pulling the Dow Jones Industrial Average down from an 11-month high. Standard & Poor’s 500 Index futures added 0.2 percent today, while the MSCI Asia Pacific excluding Japan Index increased 0.7 percent. Markets in Japan, Malaysia, Indonesia and Pakistan are shut for holidays. The global economy has yet to feel the biggest impact of government-led spending programs to stimulate demand, according to U.K. Prime Minister Gordon Brown, who yesterday reiterated concerns about removing them too early. “The stimulus that we have still got to give the world economy is greater than the stimulus we have already had,” Brown told reporters in London before his departure today for the Group of 20 meeting in Pittsburgh. “What we want to do is safeguard a recovery from a recession we feared would develop into a depression.” Global leaders meet this week seeking to deliver the broadest financial regulation overhaul since the 1930s, potentially threatening profits and stock prices of banks. The G-20 convenes in Pittsburgh on Sept. 24-25 to discuss forcing banks to curb leverage, hold more equity capital and keep a greater pool of assets that can be easily traded. Fed Meeting Stocks have rallied since March as the G-20 committed about $12 trillion to revive growth and the Federal Reserve kept overnight borrowing costs near zero to unlock credit markets. The collapse of subprime mortgages spurred $1.6 trillion in writedowns and losses at the world’s biggest financial firms. Fed Chairman Ben S. Bernanke’s efforts to stoke a U.S. economic recovery may be undermined by the central bank’s other goal of restoring the banking system to health. The Federal Open Market Committee, at the conclusion tomorrow of a two-day meeting, will probably maintain its assessment that “tight” bank credit is impeding growth. Economists surveyed by Bloomberg News unanimously forecast the Fed will leave its benchmark interest rate unchanged. Carnival added 2.7 percent to 2,115 pence after Bank of America added the shares to its “Europe 1” list. Samsung Electronics, the world’s largest computer-memory chipmaker, gained 3.4 percent to 825,000 won in Seoul. Citigroup raised its price estimate to 1,030,000 won from 900,000 won on expectations earnings will benefit from growing demand for computer-memory chips, according to a note yesterday. Chip Prices Separately, the price of the benchmark computer-memory chip climbed 1.1 percent yesterday to the highest level since Aug. 27, 2008, according to Dramexchange Technology Inc. STMicroelectronics added 3.1 percent to 6.75 euros and Infineon Technologies AG, Europe’s second-largest chipmaker, gained 1.3 percent to 3.64 euros. Vivendi SA rose 1.4 percent to 21 euros. The owner of the world’s biggest music company may decide at an Oct. 14 board meeting to sell its stake in NBC Universal, according to a person with knowledge of the situation. Vivendi spokesman Antoine Lefort declined to comment yesterday on the company’s plan for NBC Universal and on the board meeting. Anne Eisele, a spokeswoman for General Electric Co., which owns 80 percent of NBC, declined to comment on Vivendi’s potential decision beyond previous statements. Misys Plc advanced 3.8 percent to 203.2 pence, the second- biggest increase in the Stoxx 600, after UBS AG upgraded the software maker to “buy” from “neutral.”

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