Most U.S. stocks rise on housing data as euro, Spain bonds gain

Market Movers

Dean Foods rallied after its WhiteWave Foods Co., the maker of Silk almond milk, filed to raise as much as $320 million in a U.S. initial public offering. Bank of New York Mellon Corp. paced an advance in banks after the largest custody bank’s earnings climbed a bigger-than-estimated 11 percent as rising stock prices lifted customer assets. M&T Bank Corp. also rallied after reporting earnings.

Technology shares were the biggest drag on the market among 10 industries. Intel, the world’s largest chipmaker, slipped after forecasting fourth-quarter gross margins that missed analysts’ estimates.

IBM, the biggest computer-services provider, dropped after reporting third-quarter revenue that fell short of projections. IBM, which accounts for more than 11 percent of the share-price- weighted Dow Jones Industrial Average, was the biggest drag on the 30-stock gauge.

European Markets

The Stoxx Europe 600 Index rose 0.5 percent, extending a three-day rally to 2.3 percent. ASML Holding NV dropped 5.3 percent as Europe’s largest semiconductor equipment maker forecast fourth-quarter sales that trailed behind projections. PSA Peugeot Citroen advanced 4.1 percent as Le Figaro said the French government and banks may bail out the automaker’s credit unit.

Japan’s Nikkei 225 Stock Average advanced 1.2 percent as Kyodo News reported Prime Minister Yoshihiko Noda will instruct his cabinet today to craft new economic stimulus measures.

Italy’s two-year notes rose, pushing the yield down 11 basis points to 2.01 percent, while Portugal’s 10-year yield fell below 8 percent. The yield on German 10-year bonds climbed nine basis points to 1.63 percent.

The euro rose against all but four of its 16 major peers, climbing 0.7 percent to 103.65 yen. Japan’s currency weakened against all 16 major peers, erasing earlier gains versus the dollar.

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