By David Merritt March 5 (Bloomberg) -- Stocks rose, with Europe’s benchmark index posting its longest winning streak in six months, on speculation U.S. job losses will persuade the Federal Reserve to keep interest rates at record lows. The yen fell and oil gained. The Stoxx Europe 600 Index advanced 0.4 percent at 10:27 a.m. in London. Russian stocks headed for their longest rally since 2006 as the Micex Index climbed for a seventh day. Futures on the Standard & Poor’s 500 Index rose 0.2 percent. The yen weakened against all 16 of its most-traded counterparts. Greek bonds increased, driving the two-year note yield down 12 basis points, after the government raised one-quarter of the money it needs to repay bondholders by the end of May. Chicago Fed President Charles Evans said yesterday he needs evidence of “highly sustainable” growth before supporting tighter monetary policy, while James Bullard of the St. Louis Fed said the central bank should remain “accomodative.” Jean- Claude Juncker, who heads the group of euro-region finance ministers, pledged support for Greece before Prime Minister George Papandreou meets with German Chancellor Angela Merkel. “We are in the middle of a really strong re-acceleration of growth,” Stefan Keitel, who oversees about $140 billion as chief investment officer at Credit Suisse Asset Management, said in an interview on Bloomberg Television in London. There’s “a quite interesting supporting picture for the equity markets specifically, and risky assets generally,” he said. Rio, Veolia The MSCI World Index of 23 developed nations’ stocks rose 0.2 percent. Rio Tinto Group led gains in mining companies, advancing 1.8 percent in London. Tate & Lyle Plc, maker of the low-calorie sweetener Splenda, added 1.8 percent after Credit Suisse Group AG lifted its recommendation on the stock. Gains were limited Veolia Environnement SA, the world’s biggest water company, slipped 2.5 percent in Paris after reporting profit that missed analysts’ estimates. The MSCI Asia Pacific Index rallied 1 percent, its biggest gain in almost two weeks. Sony Corp., the maker of the PlayStation 3 game machine, rose 3.4 percent in Tokyo as a weaker yen boosted the outlook for export earnings. The gain in U.S. futures indicated the S&P 500 may rise for a sixth day, its longest winning streak in almost two months. The benchmark gauge yesterday gained 0.4 percent as fewer Americans filed claims for unemployment insurance last week and productivity topped economists’ estimates. U.S. Jobs The MSCI Emerging Markets Index gained 0.7 percent, pushing the index toward its best weekly advance this year. Russia’s Micex Index climbed 0.8 percent as electricity generator OAO OGK-3 and OAO Raspadskaya, the nation’s largest coking coal producer, gained more than 2 percent after broker upgrades. Poland’s zloty strengthened 0.2 percent, extending a six-day winning streak, the longest since November, as Monetary Policy Council member Anna Zielinska-Glebocka said Poland may need to raise interest rates this year. Greece’s 5 billion euros ($6.8 billion) of 10-year bonds sold yesterday opened little changed at 98.95 cents on the euro to yield 6.4 percent, compared with an issue price of 98.94 cents, according to Caixa Banco Investimento. The yen weakened against the dollar for a second day, falling 0.3 percent to 89.27 and declined 0.4 percent to 121.38 per euro. The common European currency strengthened 0.1 percent to $1.3598. Copper advanced 1 percent to $7,475 a metric ton in London, leading gains in industrial metals. Gold added 0.3 percent to $1,135.50 an ounce. Crude oil for April delivery rose 0.7 percent to $80.66 a barrel in electronic trading on the New York Mercantile Exchange. --With assistance from Dan Tilles, Gavin Serkin, Steve Voss, Stuart Wallace and John Glover in London. Editors: Paul Sillitoe, Mark Gilbert To contact the reporter on this story: David Merritt in London on dmerritt1@bloomberg.net. To contact the editor responsible for this story: Paul Sillitoe at psillitoe@bloomberg.net. Related Articles

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