European stocks advanced as investors waited for European Central Bank President Mario Draghi to provide the details of his plan to stem the region’s debt crisis. U.S. index futures and Asian shares also gained. Lonmin Plc (LMI), the platinum producer whose main mine has been shut since Aug. 10 because of a violent strike, rose 5.3 percent after agreeing to open wage talks with three labor unions. Whitbread Plc (WTB) jumped 5.5 percent after sales climbed. The Stoxx Europe 600 Index (SXXP) advanced 0.6 percent to 267.14 at 12:48 p.m. in London. The equity benchmark has surged 14 percent from this year’s low on June 4 as Draghi pledged to do everything possible to preserve the euro. Standard & Poor’s 500 Index futures climbed 0.4 percent today, while the MSCI Asia Pacific Index added 0.3 percent. “As has been the case for the last few days, there is only one show in town for investors ahead of the ECB decision and the accompanying comments,� wrote Richard Hunter, head of equities at Hargreaves Lansdown Plc in London, in an e-mail. “Speculation has been slowly mounting to reflect a more hopeful attitude by investors, who are expecting a proposed resolution to the European debt situation. Only when such building blocks are in place can thoughts turn to promoting economic growth in the region, which has been notable by its absence for some considerable time.� Bond Buying Draghi’s blueprint to lower borrowing costs in Spain and Italy proposes unlimited buying of government debt with maturities of as long as three years, two central bank officials said yesterday on condition of anonymity. The proposals were sent to members of the ECB’s Governing Council just two days ago. Germany’s Bundesbank opposes them. Draghi holds a press conference at 2:30 p.m. in Frankfurt. Stocks pared gains as the ECB left its benchmark interest rate at 0.75 percent. Thirty of 58 economists in a Bloomberg survey had predicted a quarter-point cut to 0.5 percent and 28 forecast no change. The Bank of England kept its key rate at 0.5 percent and held its bond-purchase target at 375 billion pounds ($597 billion) today. A U.S. report may show that service industries expanded at a slower pace in August, according to economists. The Institute for Supply Management’s non-manufacturing index will show a reading of 52.5 for last month, according to the median forecast of 76 economists in a Bloomberg survey. A number greater than 50 signals expansion. A separate release may show that companies hired the smallest number of workers in three months in August. Lonmin, Whitbread Lonmin surged 5.3 percent to 557.5 pence. The company signed an agreement with the National Union of Mineworkers, the United Association of South Africa and the Solidarity labor union, Afzul Soobedaar, a senior national commissioner with the Commission for Conciliation, Mediation and Arbitration, told reporters. Under the agreement, the miners will return to work at the operation, which accounts for a 10th of global platinum output, by 7 a.m. local time on Sept. 10. Whitbread jumped 5.5 percent to 2,214 pence after saying like-for-like sales rose 4.3 percent in the 24-week period to Aug. 16, while total sales increased 14.3 percent. Chief Executive Officer Andy Harrison said that the company should meet the targets of its growth program even though trading remains variable from month to month. Dixons, Morrisons Dixons Retail Plc (DXNS) increased 1.8 percent to 19.45 pence after fiscal first quarter like-for-like sales climbed 5 percent, beating estimates projecting a 4 percent gain. The consumer electronics retailer said same-store sales in the U.K. and Ireland, which account for almost half of the group’s business, increased 7 percent. William Morrison Supermarkets Plc (MRW) gained 2.8 percent to 288.5 pence, its biggest rally since July, after reporting a first-half underlying pretax profit of 445 million pounds, exceeding the average estimate of 431.5 million pounds. Luxottica Group SpA (LUX), owner of the Oakley and Ray-Ban sunglasses brands, tumbled 6.9 percent to 27.39 euros as the company’s founder, Leonardo Del Vecchio, sold 18 million common shares at 27 euros apiece. To contact the reporter on this story: Jonathan Morgan in Frankfurt at jmorgan157@bloomberg.net To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net

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