European Stocks Climb After Fed as Bayer Rallies on Spinoff Plan
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European stocks rose for a second day, after Federal Reserve Chair Janet Yellen indicated interest rates won’t increase anytime soon, and Bayer AG rallied on plans to spin off its plastics unit.
Bayer contributed the most to the Stoxx Europe 600 Index’s gain. Sulzer AG jumped the most in almost three years after saying it is in talks with Dresser-Rand Group Inc. about a possible transaction. TUI Travel Plc rose 4.7 percent after Morgan Stanley upgraded the shares. EasyJet Plc advanced after saying it will increase its dividend-payout ratio and exercise purchase rights for 27 Airbus Group NV A320 planes.