European Stocks Rise; Holcim, Shell, Eni, BHP Billiton Climb

European stocks gained for a second day after commodity prices rallied, earnings from companies including Holcim Ltd. and Carlsberg A/S beat analysts' estimates and Societe Generale SA eased writedown concerns.

Royal Dutch Shell Plc and Eni SpA led an advance in energy stocks as crude oil surpassed $98 a barrel for the first time in New York. BHP Billiton Ltd. and Anglo American Plc, the world's largest mining companies, rose as copper increased.

``Oil and metal producers should benefit from rising prices as oil is heading for $100 a barrel,'' said Klaus Stabel, head of research at ICF Kursmakler AG in Frankfurt. ``Third-quarter earnings support the market. Results have been surprisingly positive. Profits are still growing.''

The Dow Jones Stoxx 600 Index added 0.3 percent to 379.66 as of 8:54 a.m. in London. The Stoxx 50 also advanced 0.3 percent, and the Euro Stoxx 50, a measure for the euro region, rose 0.2 percent.

The dollar slid to record lows against the euro after a Chinese government adviser said plans to diversify foreign exchange reserves will involve buying better-performing currencies. European government bonds advanced in London.

National benchmarks increased in all of the 17 western European markets that were open except for Portugal and Spain. The U.K.'s FTSE 100 gained 0.4 percent. France's CAC 40 added 0.6 percent, and Germany's DAX rose 0.2 percent.
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