By Adam Haigh Aug. 17 (Bloomberg) -- European stocks rose after Carlsberg A/S increased its earnings forecast and Wienerberger AG returned to profit. U.S. index futures and Asian shares advanced. Carlsberg, the Nordic region’s biggest brewer, rallied 2.4 percent. Schindler gained 1.9 percent as it reported higher earnings in the second quarter. Wienerberger soared 8.3 percent after the world’s largest brickmaker posted a second-quarter profit as the market recovered. The benchmark Stoxx Europe 600 Index rose 0.4 percent to 256.68 as of 8:34 a.m. in London. The gauge has rallied 11 percent from this year’s low on May 25 as companies from Siemens AG to Daimler AG increased their estimates for earnings growth, offsetting concern that the global economic recovery may stall as governments slash spending to tame their budget deficits. Futures contracts on the Standard & Poor’s 500 Index expiring next month gained 0.4 percent today, as did the MSCI Asia- Pacific Index. “We’re still favoring equities and we’re still favoring risk,” Richard Lacaille, the London-based chief investment officer at State Street Global Advisors which manages $1.8 trillion, said in an interview with Bloomberg Television. “Earnings have been better than expected both in the U.S. and Europe.” Home Depot Inc. and Wal-Mart Stores Inc. are among companies due to report quarterly results before the opening of U.S. exchanges today. Of the 440 companies on the Standard & Poor’s 500 Index that have reported results since July 12, 75 percent have topped estimates for earnings-per-share, according to data compiled by Bloomberg. In Europe, 55 percent of companies on the Stoxx 600 that have announced profits have beaten forecasts, the data show. U.S. Economy American industrial production and housing starts probably rose in July from depressed levels the prior month as the U.S. struggled to sustain the recovery, economists said before reports today. The Federal Reserve’s production figures are scheduled for 9:15 a.m. in Washington. The Commerce Department’s homebuilding report is due at 8:30 a.m. German investor confidence probably declined to a 16-month low in August, a sign economic growth is likely to slow from the record-breaking pace set in the second quarter. The ZEW Center for European Economic Research will say at 11 a.m. in Mannheim today that its index of investor and analyst expectations fell for a fourth month, to 20 from 21.2 in July, according to the median of 33 forecasts in a Bloomberg News survey. Upper Limit In the U.K., consumer prices probably rose 3.1 percent from a year earlier in July, exceeding the 3 percent ceiling for a fifth month, the median forecast of 31 economists in a Bloomberg News survey shows. Bank of England Governor Mervyn King may be forced to explain to the U.K. government why he has allowed inflation to stay above its upper limit for most of this year as he fights to maintain the bank’s credibility. Carlsberg, the biggest brewer in Russia, raised its full- year forecast as the effect of a stronger ruble and an improvement in the Russian market led to earnings that beat analyst estimates. Shares of the brewer climbed 2.4 percent to 511.5 kroner. Carlsberg expects 2010 net income growth of 40 percent, excluding acquisition costs, and operating profit to be 10 billion kroner ($1.7 billion). Carlsberg previously expected net income growth of “more than” 20 percent and operating profit “in line” with last year’s level. Second-quarter profit rose to 2.63 billion kroner from 1.94 billion kroner a year earlier, beating the 2.05 billion-kroner average estimate of 14 analysts compiled by Bloomberg. Began to Recover Wienerberger rose 8.3 percent to 10.5 euros, the biggest gain in 10 months. Second-quarter net income was 20.6 million euros ($26 million), compared with a 151.5 million euro loss the year before after the company cut costs and the building- material market began to recover. Schindler advanced 1.9 percent to 99.3 Swiss francs as it said its second-quarter profit rose to 178 million Swiss francs ($171 million) from 157 million francs, topping the average analyst estimate of 161 million francs. Aegon NV rallied 4.6 percent to 4.52 euros after the Dutch owner of U.S. insurer Transamerica Corp. said it expects the European Union to approve its 2008 bailout as the company repays 500 million euros of state aid this month. Loss Narrowed OC Oerlikon Corp. AG surged 5.5 percent to 4.39 Swiss francs after saying its first-half loss narrowed to 51 million Swiss francs from 99 million francs as demand recovered. The result beat the median estimate of three analysts surveyed by Bloomberg for a loss of 104 million francs. Galenica AG, Switzerland’s largest drug wholesaler, climbed 2.4 percent to 433 Swiss francs after saying first-half profit rose 1.3 percent to 117.4 million Swiss francs. Resolution Ltd., the buyout firm founded by Clive Cowdery, rose 2.4 percent to 252 pence. The company posted a first-half profit after buying Friends Provident Plc. Operating profit was 203 million pounds ($318 million), compared with a 7 million- pound loss a year earlier. The 2009 half-year earnings excluded profit from Friends Provident, Resolution’s first acquisition, because the sale was completed in November. Gas Natural SDG SA sank 3.2 percent to 12.04 euros after an arbitration tribunal ruled in favor of Algeria’s Sonatrach in a contract dispute between the two energy companies. Tryg A/S declined 2.3 percent to 337.5 kroner. The Nordic region’s second-largest property and casualty insurer said quarterly profit declined 82 percent after claims increased and the company reported a loss on its equity holdings. To contact the reporter on this story: Adam Haigh in London at ahaigh1@bloomberg.net

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