European stocks rose for a fourth day after results from Vinci SA and Sandvik AB beat analysts’ forecasts. The euro reversed a drop versus the dollar, while Italian bonds recovered some losses following a debt sale. The Stoxx Europe 600 Index (SXXP) rose 0.3 percent at 11 a.m. London time, while futures on the Standard & Poor’s 500 Index were little changed. The euro strengthened about 0.1 percent after weakening as much as 0.5 percent. The yield on the 10-year Italian bond rose eight basis points, down from an increase of as much as 13 basis points. The S&P GSCI gauge of commodities dropped 0.3 percent, declining for the first time in four days. Sales at Vinci, Europe’s largest builder, topped analyst estimates, while Sandvik, the world’s biggest maker of metal- cutting tools, reported first-quarter profit that beat projections. Italy sold 4.92 billion euros ($6.5 billion) of 2017 and 2022 bonds, close to the maximum target, even as its borrowing costs rose. A report today may show the U.S. economy expanded at a slower pace in the first quarter. “For the past few days, the market has been focusing on earnings and this is an element of support,� said Guillaume Duchesne, an equity strategist at BGL BNP Paribas SA in Luxembourg. “The debut of earnings season has been impressive. There are signs of hope in the U.S. economy.� Stocks Rebound The Stoxx 600 erased an earlier decline of as much as 0.9 percent. Vinci climbed 4.4 percent, leading a rally in construction companies. Sandvik jumped 11 percent. DNB ASA, Norway’s largest lender, led banks lower after earnings trailed estimates. The shares slid 9.3 percent. The U.S. economy expanded at a 2.5 percent annual rate in the first quarter, after a 3 percent increase in the final three months of 2011, according to the median forecast of economists surveyed by Bloomberg News before a Commerce Department report at 8:30 a.m. in Washington. Chevron Corp. and Ford Motor Co. are among 15 companies in the S&P 500 due to report earnings today. Per-share profit has topped analyst estimates by an average of 7.7 percent for the 256 index members to have released results since April 10, according to data compiled by Bloomberg. To contact the reporters on this story: Daniel Tilles in London at dtilles@bloomberg.net; Lynn Thomasson in Hong Kong at lthomasson@bloomberg.net To contact the editor responsible for this story: Justin Carrigan in London at jcarrigan@bloomberg.net

Source