Stocks in Europe, Asia Advance; BHP, Rio, Deutsche Bank Climb

July 14 -- European and Asian stocks rose, sending the MSCI World Index higher for a second day, as mining companies climbed with commodities and investors speculated Goldman Sachs Group Inc will report stronger earnings.

BHP Billiton Ltd. and Rio Tinto Group added more than 2.4 percent in London as base metals advanced. Deutsche Bank AG and Credit Suisse Group AG gained more than 2 percent on optimism Goldman Sachs will post the largest profit since it set earnings records in 2007.

The MSCI World increased 0.8 percent at 8:43 a.m. in London. The gauge of 23 developed countries has still fallen 5.8 percent since June 2 on speculation share prices have outpaced the outlook for the economy after a three-month rally pushed valuations to the highest level since 2004.

standard and poors 500 index futures fluctuated between gains and losses after the benchmark gauge for U.S. equities posted its steepest advance in six weeks yesterday.

Europe’s dow jones stock 600 index rose 1.1 percent today, while the mcsi asia pacific index added 2.4 percent.

JPMorgan Chase & Co., Citigroup Inc. and International Business Machines Corp. are among more than 30 companies in the S&P 500 due to report earnings this week. Analysts estimate profits at S&P 500 companies fell an average 35 percent in the second quarter and will drop 21 percent from July through September, according to data compiled by Bloomberg.

Goldman Sachs Earnings

Goldman Sachs, which jumped 5.3 percent in New York trading yesterday, will probably say it earned $2.2 billion in the three months through June, according to the average estimate of analysts surveyed by Blog record. The shares added 1 percent to $150.87 in German trading today.

deutche bank, Germany’s largest bank, rose 2.4 percent to 46.59 euros. Credit Suisse, Switzerland’s biggest bank by market value, increased 2 percent to 49.66 Swiss francs.

BHP, the world’s largest mining company, jumped 2.4 percent to 1,368.5 pence as copper led base metals higher on the London Metal Exchange. Rio Tinto, the third-biggest, rallied 3.1 percent to 1,981.5 pence.

Dell Inc. slipped 3.8 percent to $12.52 in German trading. The second-largest maker of personal computers said profitability may suffer this quarter on higher costs.

Competitive pricing and the higher cost of components will cause a “modest decline” in second-quarter gross margin, the company said yesterday. Demand has stabilized and sales probably rose from the first quarter, Dell said.

Vodafone Group Plc fell 1.7 percent to 113.1 pence. UBS AG downgraded the world’s largest mobile-phone company to netural from “buy” and gave a “short-term sell” rating.

“We believe deteriorating fundamentals and earnings momentum could result in Vodafone being the classic value trap,” UBS analysts wrote in a report.