Europe stocks climb as German consumer confidence beats forecast

U.S.labor, durable goods reports provide good news for Europe

Assicurazioni Generali SpA rose 2.1% to 16.93 euros. Europe’s third-largest insurer plans to cut an extra 150 million euros ($204 million) of costs by 2015 and reduce debt as part of a plan to boost profit and strengthen capital.

Aker Solutions ASA rallied 8.7% to 107.5 kroner, the highest price since April. Billionaire Kjell Inge Roekke’s investment firm Aker ASA bought 16.4 million shares of the Norwegian oil-services company at 115 kroner a share, 16% more than yesterday’s closing price.

Colruyt SA climbed 6% to 42.04 euros, for its largest increase in five months. Belgium’s biggest discount food retailer late yesterday posted first-half revenue and net income that exceeded forecasts.

Accor reorganization 

Accor dropped 6.8% to 31.29 euros, its biggest decline since June 2012. Europe’s largest hotel operator said it will reorganize its business into two separate units. The HotelServices unit will operate about 460,000 hotel rooms under 14 brands. The HotelInvest unit will act as the owner and investor in hotels.

De La Rue Plc tumbled 7.5% to 847.5 pence. Citigroup Inc. cut its rating for the banknote printer to neutral from buy, citing a price war in the currency market.

Solvay SA fell 2.4% to 111.1 euros. The chemical maker lowered its forecast for earnings before interest, taxes, depreciation and amortization in 2016 to no more than 2.5 billion euros, from a previous prediction of 3 billion euros.

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