European stocks advanced after the euro-area central bankunexpectedly cut the benchmark interest rate and reports that GreekPrime Minister George Papandreou may quit reduced the chance of avote on the bailout package.
Swiss Re Ltd. and Man Group Plc each gained more than 5 percentafter reporting better-than-expected earnings. Cable & WirelessCommunications Plc jumped 9.6 percent after saying restructuring isahead of schedule.
The benchmark Stoxx Europe 600 Index climbed 2.2 percent to242.52 at 1:23 p.m. in London, after the European Central Bank'srate decision. The stocks earlier erased their losses amidspeculation that Greece will cancel the referendum as Papandreou'sruling Pasok party split over the question.
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