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BS: European Stock-Index Futures Climb; Julius Baer May Advance
 
By Adam Haigh
April 26 (Bloomberg) -- European stock-index futures rose as higher commodity prices boosted raw-material producers and Greece moved closer to securing an emergency aid package. Asian shares and U.S. futures advanced.
BHP Billiton Ltd. and Rio Tinto Group will probably move as metals prices rallied in London. TomTom NV may advance after Europe’s biggest maker of portable navigation devices reported an unexpected profit. Julius Baer Group Ltd., the 120-year-old Swiss private bank, may climb after Deutsche Bank AG advised buying the shares.
Futures on the Euro Stoxx 50 Index rose 1.3 percent as of 7:25 a.m. in London. The U.K.’s FTSE 100 Index is poised to open 35 points higher, according to London-based inter-dealer broker BGC Partners. The MSCI Asia Pacific Index surged 1.5 percent and futures on the Standard & Poor’s 500 Index expiring in June gained 0.1 percent.
Greek Finance Minister George Papaconstantinou spoke to reporters in Washington yesterday as he negotiated a three-year loan plan with the International Monetary Fund and European governments. He said money will be available “rather soon” and his country wouldn’t restructure its debt. Dominique Strauss- Kahn, the IMF’s managing director, said talks will end “in time to meet Greece’s needs.”
Greek Aid
The Stoxx Europe 600 Index has climbed 5.3 percent in 2010 as the European Union agreed a 45 billion-euro ($60 billion) aid package to help Greece tackle its budget deficit. The measure has rallied 69 percent from a 12-year low reached in March 2009 amid signs the global economy is recovering from the worst recession since World War II.
BHP Billiton, the world’s largest mining company, and Rio Tinto, the third biggest, may be active. Copper, lead, nickel, tin and zinc rose on the London Metal Exchange.
TomTom may advance after reporting first-quarter net income before minorities of 3.09 million euros. Analysts had estimated the company would post a loss, according to the average forecast compiled by Bloomberg.
Julius Baer may rise after Deutsche Bank upgraded its recommendation on the stock to “buy” from “hold” and increased its share-price estimate by 26 percent to 48 Swiss francs.
Air Liquide SA might be active. The world’s biggest producer of industrial gases said first-quarter sales rose 5.2 percent to 3.15 billion euros, bolstered by demand in emerging markets and a recovery in electronics markets. The average estimate in a Bloomberg survey of 10 analysts was 3.08 billion euros in revenue.
Bank of Ireland
Bank of Ireland Plc will probably move. The country’s biggest lender by market value said it will seek to raise as much as 3.4 billion euros to fill a capital hole as real estate bad debts surge.
The bank is trying to place 500 million euros worth of shares with institutional investors and sell another 1.9 billion euros worth of shares. The lender is also offering to swap debt for equity and convert some of the government preference shares into equity.
Imtech NV, the largest Dutch technical-services company, may move after saying there will be further growth in its order book in the first quarter as it maintained its forecast for the full year.
--Editors: Andrew Rummer, David Merritt.
To contact the reporter on this story: Adam Haigh in London at ahaigh1@bloomberg.net
To contact the editor responsible for this story: David Merritt at dmerritt1@bloomberg.net.
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