Global Stocks Rise on Economy as Metals Advance on China.

http://www.bloomberg.com/news/2014-07-23/asian-index-futures-rise-as-facebook-soars-kiwi-slides.html

Stocks rose around the world after stronger manufacturing while the ruble weakened for the first time in three days on the threat of more sanctions. Hong Kong stocks, the yuan and industrial metals gained on China orders.

The MSCI All-Country World Index advanced 0.1 percent by 8:07 a.m. in New York and futures on the Standard & Poor’s 500 Index rose 0.2 percent. The ruble weakened 0.3 percent. TheHang Seng Index climbed 0.7 percent to the highest close since April 2011, while the yuan added 0.1 percent and copper rallied 1.5 percent. Gold fell 0.5 percent. New Zealand’s dollar slid the most in nine months as the nation’s central bank said the currency’s strength is unjustified. German bonds declined.

Reports showed euro-area manufacturing and services grew this month while Chinese factory activity rose to an 18-month high in July. U.S. new home sales probably fell in June after rising the most in 22 years in May, economists said before data from the Commerce Department today. Amazon.com Inc. and Starbucks Corp. are due to report earnings.

“The better data out of China and Europe has added more to the pro-risk mood,” said Alvin T. Tan, the director of foreign exchange strategies at Societe Generale SA in London. “The U.S. earnings season by and large has come out better than expected so that’s why the stock market keeps pushing to new highs.”

The Stoxx 600 advanced 0.5 percent after adding 1.5 percent in the past two days, ending at a one-week high. The gauge closed 2 percent away from its six-year high on June 10.

Facebook Rallies

Facebook Inc. (FB) climbed 9.7 percent in early New York trading after the social network said second-quarter sales surged 61 percent and net income more than doubled, exceeding analysts’ projections. Mobile promotions accounted for 62 percent of ad sales, up from 59 percent in the prior period.

Gauges of banks advanced the most among 19 industry groups in the Stoxx 600 today.

Danske Bank A/S advanced 5.3 percent after Scandinavia’s second-largest lender by assets delivered its best quarterly result since 2008. Banco Comercial Portugues SA climbed 7 percent after Banco de Sabadell SA raised its stake to 5.53 percent.

Nokia Oyj jumped 7.7 percent after the Finnish network-equipment maker boosted its profitability forecast.