Jan. 3 (Bloomberg) -- Stocks rose, sending Europe’s benchmark index to its biggest advance in almost two weeks, U.S. index futures gained and the dollar strengthened on speculation America’s growth will pick up as China’s expansion moderates. The Stoxx Europe 600 Index jumped 1 percent at 10:25 a.m. in London, while Standard & Poor’s 500 Index futures added 0.6 percent. The Hang Seng China Enterprises Index increased 1.5 percent. The Dollar Index, which tracks the U.S. currency against those of six trading partners, climbed 0.4 percent. Treasury futures expiring in March declined after gaining on Dec. 31. Copper rallied as much as 1 percent on the Comex in New York, and oil rose for a second day. Markets in London, Shanghai, Tokyo and Sydney were closed for holidays. U.S. factory output probably accelerated, a report today may show, while data later this week might indicate growth in services and employment. European manufacturing expanded more than initially estimated in December, London-based Markit Economics said. China’s purchasing managers’ index fell for the first time in five months, suggesting efforts to cool the economy are working, according to figures released Jan. 1. “The overall situation is very constructive,” said Jonathan Fayman, a fund manager at BlueBay Asset Management Plc in London, which oversees about $38 billion. “Seems people held back into the end of the year and were waiting to re-enter risk positions in the New Year, which is what they’ve done. Commodities are also trading very well.” Porsche, Fiat More than 10 companies rose for every one that fell on the Stoxx 600, extending last year’s 8.6 percent advance. Porsche SE jumped 11 percent as a U.S. judge dismissed claims against the carmaker for more than $2 billion. Volkswagen AG increased 3.2 percent after extending Chief Executive Officer Martin Winterkorn’s contract by five years. Lagardere SCA climbed 6.2 percent as France’s biggest publisher began talks to sell its international magazine business. JCDecaux SA advanced 4.1 percent after saying it doesn’t “feel any deceleration” in its Chinese business. Fiat Industrial SpA traded at 8.79 euros after setting a high of 9.09 euros in its first trading session after splitting from Fiat SpA. Fiat traded at 7.05 euros after closing at 15.43 euros on Dec. 30. The gain in U.S. futures indicated the S&P 500 may extend last year’s 13 percent advance. Ten-year Treasury futures contracts fell 14/32, or $4.38 per $1,000 face amount, to 120, giving a yield of 3.60 percent. U.S. Output The Institute for Supply Management’s factory index rose to 57 in December, from 56.6 the prior month, according to the median estimate of 57 economists surveyed. The report is due at 10 a.m. New York time. Separate data from the Commerce Department, set for the same time, may show construction spending increased 0.2 percent in November. The MSCI Emerging Markets Index increased 0.7 percent, advancing for a fifth day to the highest since June 2008. South Korea’s Kospi index closed at a record high after exports increased for the 14th month. Banks led Turkey’s ISE National 100 Index 0.9 percent higher after inflation slowed more than estimated, making interest-rate increases less likely. Copper climbed to a record $4.4925 a pound on the Comex in New York, before trading at $4.4845. Oil advanced 0.5 percent to $91.85 a barrel. The dollar appreciated 0.6 percent against the euro. The euro, which Estonia adopted on Jan. 1 to become the 17th member of the currency region, depreciated 6.5 percent against the dollar last year, its worst performance since 2005, as the sovereign-debt crisis roiled the bloc’s weakest economies. --With assistance from Adam Ewing in Stockholm and David Merritt and Daniel Tilles in London. Editors: Stephen Kirkland, Justin Carrigan To contact the reporter on this story: Stephen Kirkland in London at skirkland@bloomberg.net. To contact the editor responsible for this story: Paul Sillitoe at psillitoe@bloomberg.net.

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