Miners, Industrials Boost Europe; Aid request failed to help sentiment in Greece, where stocks fell for a fourth session and debt insurance hit records
Miners and industrial stocks gained in Europe, underscoring investors' belief that the global economy is recovering.</br></br>But Greece's stock market dropped for the fourth consecutive session, as investors appeared far from appeased by the country's formal request on Friday for financial aid. Worries about the risk of default remained strong, and the cost of insuring the country's debt against such an event hit fresh records.</br></br>The pan-European Stoxx 600 index closed up 1% at 270.10, the U.K.'s FTSE 100 added 0.5% to 5753.85, Germany's DAX rose 1.2% to 6332.10 and France's CAC-40 firmed 1.2% to 3997.39.</br></br>The Athens General Index slumped 2.9% to 1696.68, its lowest level since April 7, 2009. It has skidded 8% over the last four sessions.</br></br>Rising metal prices and optimism about economic recovery from U.S. heavy-equipment maker Caterpillar boosted sentiment in Europe. Copper miner Antofagasta, a play on the global economy surged 7.1% in London.