Stocks Get Central Bank Lift as Yen Retreats; Oil Extends Rally

February 15, 2016 11:06 AM

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Stocks in Europe headed for the biggest two-day gain in more than four years, while oil advanced and China’s yuan jumped by the most since a dollar peg was scrapped in 2005, after People’s Bank of China Governor Zhou Xiaochuan expressed faith in the economy. Demand for havens such as gold and the yen declined.

The Stoxx Europe 600 Index continued Friday’s advance, while the MSCI Asia Pacific Index jumped the most since 2009, as investors anticipated further support from European Central Bank President Mario Draghi when he gives testimony to the region’s parliament. The Shanghai Composite Index declined as...

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