U.S. stock-index (SXXP) futures and copper rose before reports likely to show American durable-goods orders increased and new-house sales remained near a four-year high. European shares erased earlier gains. Standard & Poor’s 500 Index futures advanced 0.2 percent at 8:20 a.m. in New York, after gaining as much as 0.3 percent. The Stoxx Europe 600 Index fell less than 0.1 percent. Copper added 0.4 percent and oil gained 0.6 percent. Italy’s 10-year bond yield slid five basis points to 4.56 percent and Spain’s dropped four basis points to 4.92 percent. Germany’s 10-year bund yield added two basis points to 1.35 percent. U.S. durable-goods orders probably increased in February by the most in five months, while sales of new homes posted the best back-to-back performance in four years, economists said before reports today. Jeroen Dijsselbloem, who heads the group of euro-area finance ministers, said in a statement yesterday aid programs are “tailor-made,� after earlier indicating the Cypriot bank-recapitalization plan may be replicated elsewhere. “The overall trend continues to show improvement for the U.S. despite some of the fiscal challenges,� Henk Potts, who helps oversee $282 billion as an equity strategist at Barclays Plc in London, said in a phone interview. “Markets don’t go up in a straight line, and there is potential for pullbacks, but we still believe the fundamentals are very supportive.� Durable Goods The gain in S&P 500 futures indicated the equity benchmark will rebound from yesterday’s decline. The Commerce Department report at 8:30 a.m. in Washington will probably reveal that orders for goods intended to last for at least three years jumped 3.9 percent in February, their biggest increase since September. A separate release at 9 a.m. New York time will show that house prices in 20 American cities advanced 7.9 percent in the 12 months through January, according to the median estimate of economists surveyed by Bloomberg News. That would be the S&P/Case-Shiller index’s largest increase since June 2006. At 10 a.m., the Commerce Department may say new homes sold at a 420,000 annual pace last month after a 437,000 rate in January, according to the median of 78 economists surveyed by Bloomberg. Three stocks declined for every two that gained in the Stoxx 600. A gauge of telecommunications companies dropped as Telefonica SA slipped 4.5 percent when trading resumed after a suspension. The Spanish mobile-phone operator is selling 990 million euros of treasury stock to reduce its debt. Telecom Italia SpA dropped 5.2 percent as Barclays Plc and Bank of America Corp. downgraded the stock. Earnings Rise Celesio AG gained 3.4 percent after the German drug wholesaler reported that earnings before interest, taxes, depreciation and amortization climbed in 2012. Copper increased to $7,649 a metric ton. The U.S. is the biggest buyer of the metal after China. The S&P GSCI gauge of 4 commodities advanced for a third day, rising 0.2 percent. West Texas Intermediate oil advanced to $95.33 a barrel. U.S. natural gas futures gained for a first day in five, rising 1 percent on the New York Mercantile Exchange. The futures have advanced 16 percent this year. The advance on Italian bonds reversed most of yesterday’s decline. European Central Bank executive board member Benoit Coeure said today the institution will do everything it can within the terms of its mandate to preserve the euro. Italian borrowing costs dropped at the sale of 8.5 billion euros ($10.9 billion) six-month bills today. The rate decreased to 0.831 percent, from 1.237 percent at an auction of similar- maturity debt Feb. 26. Political Risk Democratic Party leader Pier Luigi Bersani has two days left to overcome a shortfall of support in parliament, after President Giorgio Napolitano gave him a mandate on March 22 to try to form a government. Bersani will meet adversary Silvio Berlusconi’s deputies at the People of Liberty party today. “With the political risk in Italy continuing, it will be hard for the euro to make any headway,� said Yuki Sakasai, a foreign-exchange strategist at Barclays Plc in New York. The MSCI Emerging Markets Index added 0.2 percent, gaining for a second day as benchmark gauges in Thailand and the Philippines gained at least 1 percent. The Shanghai Composite Index fell 1.3 percent, the most in a week, after the China Securities Journal said many banks started to control the scale of loans for property development. To contact the reporters on this story: Stephen Kirkland in London at skirkland@bloomberg.net; Jae Hur in Tokyo at jhur1@bloomberg.net To contact the editor responsible for this story: Justin Carrigan at jcarrigan@bloomberg.net;

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