Misys shares rally after Allscripts deal; Outokumpu also advances By Sarah Turner, MarketWatch LONDON (MarketWatch) -- Shares in Europe climbed for the first time in four sessions on Wednesday, with investors responding favorably to updates and deals from ING, Santander and Inditex. The Stoxx Europe 600 index (ST:SXXP 242.66, +2.60, +1.08%) rose 1.2% to 242.99, after shedding 3.6% over the last three sessions. The volatile mining and financial sectors were in the lead on Wednesday with mineral extractor Rio Tinto (UK:RIO 3,118, +56.00, +1.83%) (RTP 44.90, +1.62, +3.74%) , up 2.2% and French bank Credit Agricole (FR:ACA 8.15, +0.13, +1.58%) , up 2.7%. Elsewhere in the financial sector, ING (NL:INGA 6.13, +0.12, +2.06%) (ING 7.25, +0.08, +1.12%) shares were up 2.4% after it said that CEO Jan Hommen will state at a conference in Madrid that the Dutch banking and insurance group reduced its Southern European sovereign debt exposure over the second quarter of 2010 and continues to cut its exposure to real estate. Shares of Spanish banking giant Banco Santander (ES:SAN 7.42, +0.07, +0.88%) (STD 8.95, +0.18, +2.05%) climbed 1.6% after it said that it will pay $2.5 billion for Bank of America's (BAC 15.33, +0.50, +3.37%) 24.9% stake in Grupo Financiero Santander, also known as Banco Santander Mexico. See related story. On the regional level, the French CAC-40 index (FR:PX1 3,416, +35.45, +1.05%) rose 1.3% to 3,425.80, the German DAX index (DX:DAX 5,918, +49.95, +0.85%) rose 0.9% to 5,922.82 and the U.K. FTSE 100 index (UK:UKX 5,057, +29.18, +0.58%) advanced 0.7% to 5,063.10. Asian markets were mixed although the Shanghai Composite index rose sharply in afternoon trading, reversing earlier losses, amid a report of upbeat export and loan growth data for May. U.S. stock futures were pointing to gains on Wall Street, with Dow Jones Industrial Average futures up 27 points. Shares of Spanish-headquartered clothing retailer Inditex (ES:ITX 46.28, +2.41, +5.48%) climbed 4.8% after its first-quarter net income rose 63% to 301 million euros ($359.6 million), with sales up 14% at 2.7 billion euros. See full story. Shares of Misys (UK:MSY 269.50, +46.00, +20.58%) rallied 24.1% to 277 pence as the U.K. firm is selling most of its 54.6% stake in Allscripts to Allscripts-Misys Healthcare Solutions (MDRX 18.42, -0.25, -1.34%) for $1.3 billion. The firm also named Stephen Wilson as its new financial chief. Stainless steel producer Outokumpu (FI:OUT1V 12.66, +0.46, +3.77%) rose 2.5%. It said that it will double ferrochrome production capacity in Finland via an investment of 440 million euros and will also invest 104 million euros to increase capacity of stainless steel quarto plate production.

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