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By Bloomberg

European stocks advanced for a second day as companies including SAP SE and Actelion Ltd. posted better-than- forecast results.

The Stoxx Europe 600 Index rose 0.6 percent to 409.4 at 1:32 p.m. in London, after earlier increasing as much as 1.3 percent. Shares pared gains as a measure of German investor confidence unexpectedly fell in April for the first time in six months.

SAP climbed 2.1 percent after reporting first-quarter sales that topped estimates as a weaker euro boosted revenue. Actelion added 3.6 percent as it increased its full-year forecast after quarterly profit beat forecasts.

“A weaker euro is always helping European shares and we had some good earnings numbers from companies such as SAP, which really helps,” said Benno Galliker, a trader at Luzerner Kantonalbank AG in Lucerne, Switzerland. “It seems European companies are better than expected. There’s a good mood in the markets after the selloff last week.”

Stocks rebounded Monday from the year’s biggest weekly decline, with commodity shares leading gains after China’s central bank boosted stimulus measures.

Among other shares moving on corporate news today, L’Oreal SA gained 1.2 percent and Publicis Groupe SA rose 6.7 percent after the companies posted better-than-forecast quarterly revenue aided by a weaker euro. Sky Plc added 5 percent after saying nine-month revenue increased.

Credit Suisse

Credit Suisse Group AG fell 2.3 percent after saying a key measure of financial strength dropped in the first quarter, stoking concerns the bank may have to boost capital.

Rio Tinto Group lost 2.4 percent after reporting quarterly iron ore production expanded at a slower pace than analysts estimated. A measure of commodity producers posted the worst performance of the 19 industry groups on the Stoxx 600.

Investors will also watch developments in Greece. The ASE Index tumbled 3.1 percent, for the worst performance of 18 western-European markets.

National Bank of Greece SA led declines, falling 7.2 percent. The European Central Bank is studying measures to rein in Emergency Liquidity Assistance to Greek banks, as resistance to further aiding the country’s lenders grows in the Governing Council, people with knowledge of the discussions said.

Euro-area finance ministers meet this week to review what policy changes the Mediterranean nation can deliver by mid-May as it seeks to unlock new aid payments and avoid a default.