European Stocks Rise
Published July 4th, 2007
European stocks advanced for a second day, led by hotel companies after Hilton Hotels Corp. of the U.S. agreed to a $20 billion buyout from Blackstone Group LP.
InterContinental Hotels Group Plc, the owner of the Holiday Inn chain, and Accor SA, Europe’s largest hotel company, surged, sending the Dow Jones Europe Stoxx 600 Travel & Leisure Index to its biggest gain in more than three months. Deutsche Telekom AG climbed after Credit Suisse Group raised its recommendation for the telecommunications industry.
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