Global Stocks, U.S. Futures Rise; CNP, Volvo, GM Pace Gains

Global stocks advanced as investors speculated the sell-off may be overdone given the outlook for earnings growth and gains in metal prices lifted mining shares. U.S. index futures increased.

CNP Assurances SA led insurers higher in Europe after Les Echos reported that Axa SA may bid for the French company. Volvo AB, the world's second-biggest truckmaker, climbed after saying 10-month sales increased. General Motors Corp. and Ford Motor Co. gained in Germany. China Mobile Ltd. and Cnooc Ltd. helped Hong Kong's index to its first advance in three days after billionaire Lee Shau-kee said he bought shares.

The MSCI World Index added 0.3 percent to 1,547.25 as of 9:05 a.m. in London. Futures on the Standard & Poor's 500 Index gained 0.8 percent to 1,428.5.

``Corporate activity is returning,'' said Andy Brough, executive director at Schroder Investment Management Ltd. in London, who helps oversee $6.5 billion. ``It's the corporates that come up with the checks and say, `You know what, these shares are cheap.'''

The MSCI World is still heading for its worst monthly slump since the start of the global bull market in 2002, posting a 7.6 percent retreat so far in November. Japan this week became the first of the world's 10 biggest stock markets to enter a bear market since the summer's U.S. subprime-mortgage collapse.

The slump has made global stocks the cheapest relative to earnings in at least 12 years. The MSCI World Index is valued at 15.4 times profit, the lowest since at least February 1995, weekly data compiled by Bloomberg show.
microcap-market.com