By Adria Cimino June 3 (Bloomberg) -- European stock-index futures rallied ahead of reports that may show the recovery in the American economy is broadening. U.S. futures gained while Asian shares surged by the most in six months. U.S.-traded securities of Total SA, Europe’s biggest oil refiner, and Repsol YPF SA climbed as crude rallied in New York. BHP Billiton Ltd., the world’s biggest mining company, gained in Sydney as copper prices rose. Royal Ahold NV, the Dutch owner of Stop & Shop supermarkets, may be active after saying first- quarter profit rose 46 percent. Futures on the Euro Stoxx 50 Index, a benchmark for the euro region, surged 2.5 percent to 2,662.00 at 7:11 a.m. in London. The U.K.’s FTSE 100 Index may increase 84, according to Cantor Index, a betting firm. The Stoxx Europe 600 Index has slumped 9.8 percent from this year’s high on April 15 on concern that European nations will have difficulty taming their budget deficits without harming the economic recovery. The drop has left the benchmark gauge trading at less than 15 times the reported earnings of its companies, near the cheapest valuation since 2008, according to Bloomberg data. “An air of opportunism does seem to be washing over the market with equities looking a little on the cheap side,” Ben Potter, a market strategist at IG Markets in Melbourne, wrote in a note. Services, Jobs Futures on the Standard & Poor’s 500 Index gained 0.7 percent, indicating the benchmark gauge for U.S. equities may extend yesterday’s 2.6 percent rally. The MSCI Asia Pacific Index jumped 2.8 percent, its biggest gain since Nov. 30. Service industries in the U.S. expanded in May at the fastest pace in four years, showing the recovery is broadening as employment improves, economists said before reports today. The Institute for Supply Management’s index of non-manufacturing businesses, which covers almost 90 percent of the U.S. economy, rose to 55.6 from 55.4 in April, according to a Bloomberg News survey of economists before the report at 10 a.m. in New York. Other reports may show firings eased and private payrolls rose. The releases come a day before the U.S. Labor Department’s monthly jobs report. Payrolls climbed by 515,000 in May, the fifth straight month of gains and the biggest since 1983, according the median forecast. American Depositary Receipts of Total gained 1.3 percent from the stock’s close in Paris. ADRs of Repsol, Spain’s biggest oil company, increased 1.4 percent from the close in Madrid. Crude oil gained for a second day in New York, with the contract for July delivery advancing as much as 1.4 percent. Leaking Well BP Plc said it is preparing a second attempt to cut the main pipe on a leaking oil well in the Gulf of Mexico after freeing a saw blade that became stuck during preparatory work to siphon the crude to ships on the surface. The biggest oil spill in U.S. history has soiled about 100 miles (161 kilometers) of coastline, halted new exploratory deep-water drilling in the Gulf, shut down a third of its fishing areas and cost BP almost $1 billion. BP shares have slumped 34 percent in London since the Deepwater Horizon drilling rig exploded April 20 and sank two days later, killing 11 workers and causing the leak. Metals Advance BHP increased 2.5 percent in Australia, while Rio Tinto Group, the world’s third-largest mining company, gained 3.3 percent. Copper, lead and nickel were among metals rising in London. Separately, BHP, which is Australia’s biggest oil and gas producer, faces lower-than-expected output over the next two years because of a moratorium on deep-water drilling in the Gulf of Mexico, Citigroup Inc. said. Ahold may be active. Net income rose to 274 million euros ($337 million) from 188 million euros in the year-earlier period, as price cuts lured shoppers in the U.S. and the Netherlands. That trailed the average 277 million-euro estimate in a Bloomberg survey of 10 analysts. Sales were little changed at 8.7 billion euros. Kingfisher Plc, Europe’s largest home-improvement retailer, may move. The company said it had a “good start to the year” in the first quarter as it reported group sales of 2.64 billion pounds ($3.8 billion) in the quarter. Johnson Matthey Plc, the producer of a third of all autocatalysts, said sales were 7.84 billion pounds in the year to March 31, compared with 7.85 billion pounds a year earlier. Pretax profit dropped to 228.5 million pounds from 249.4 million pounds. To contact the reporter on this story: Adria Cimino in Paris at acimino1@bloomberg.net.

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