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Stocks in Europe gain on commodities surge; treasuries decline

US 10-year yield heads for 2% as traders await CPI report

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Bloomberg
Stocks in Europe gained as commodity producers received a boost from rising metal prices and solid earnings. Treasury yields ticked higher and the dollar strengthened.

The Stoxx Europe 600 Index rose for a second day, with the basic-resources sector jumping more than 3 per cent as iron ore roared past $150 a tonne and aluminum headed toward a four-month high.

Rio Tinto Plc, Glencore Plc, and Anglo American Plc were among the biggest gainers. BP Plc advanced after reporting strong earnings and announcing a share buyback. 

On the downside, French lender BNP Paribas SA dropped as much as 4.5 per cent after fourth-quarter