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By Bloomberg

European stocks rose with U.S. equity-index futures, boosted by earnings that exceeded analyst estimates and gains in commodities. Speculation the Federal Reserve will increase interest rates as soon as next month sent the dollar to a four-month high and pushed government bonds lower.

The Stoxx Europe 600 Index rose 0.8 percent at 9:49 a.m. in London and U.S. equity-index futures signaled shares will rise for the first time in four days. Russia’s ruble strengthened as oil advanced for a second day before U.S. government data that analysts forecast will show crude stockpiles declined. The Bloomberg Dollar Spot Index climbed 0.2 percent. Bonds slid from Australia to Britain as Treasuries extended a drop from Tuesday.

Oil is rebounding after reaching its lowest level since January on Monday, helping quell losses among energy and mining stocks. Banks rose in Europe as Societe Generale SA posted its highest profit since the financial crisis. Investors will be looking at a private U.S. jobs report for clues on the timing of an interest-rate increase after Fed Bank of Atlanta chief Dennis Lockhart said he would only endorse putting it off should there be a significant deterioration in economic data.

“We’ve had some decent results in banks and it’s turning out to be an all-right earnings season,” said William Hobbs, head of investment strategy at Barclays Plc’s wealth-management unit in London. “People are raising their bets after the Atlanta Fed governor Lockhart comments.”

SocGen Trading

The Stoxx 600 climbed for the sixth time in seven days and all its industry groups up. With a 2.5 percent gain, commodity producers are heading for their biggest jump since July 13.

Societe Generale jumped 8.4 percent as an increase in stock volatility led to higher equity trading revenue at the region’s lenders. Legal & General Group Plc and Beiersdorf AG also reported earnings that topped projections.

The Standard & Poor’s 500 Index futures advanced 0.2 percent. 21st Century Fox Inc. and Time Warner Inc. are among 24 S&P 500 companies reporting earnings on Wednesday.

West Texas Intermediate rose 1 percent to $46.18 a barrel, extending a 1.3 percent gain Tuesday. Brent added 1.1 percent to $50.52.

Wheat for September delivery climbed 0.5 percent to $4.9575 a bushel amid concern that wet weather in the northern U.S. plains could delay the harvest. Soybeans gained 0.5 percent.

Currencies Fall

South Korea’s won fell 0.6 percent versus the dollar and Malaysia’s ringgit sank to the lowest level since 1998, leading declines in emerging markets. A gauge of 20 currencies dropped for a fifth day to a record low.

The offshore yuan slipped after the International Monetary Fund said China’s currency trails its global counterparts in major benchmarks and “significant work” in analyzing data is needed before deciding whether to grant it reserve status.

Russia’s ruble rose for a second day as a report showed unexpected growth in the country’s purchasing managers’ index for services.

The MSCI Emerging Markets Index of stocks was little changed, slipping less than 0.1 percent, with 325 stocks rising and 182 falling.

The Shanghai Composite Index fell 1.5 percent, its fourth loss in five days, as turnover waned and concern grew that unprecedented government intervention is driving away investors. The value of shares traded on the index has fallen 65 percent from this year’s high in June as trading halts, regulatory measures to curb bearish transactions and a suspension of initial public offerings discourages investors.

Hong Kong’s Hang Seng China Enterprises Index gained 0.7 percent.

L&G Profit

Legal & General climbed 2.3 percent after the biggest manager of U.K. pension assets reported first-half profit that beat analysts’ estimates amid a jump in inflows. Beiersdorf, the maker of Nivea cream and Labello lip balm, rose 2.7 percent.

Mediobanca SpA rose 2.1 percent after raising its dividend. London Stock Exchange Group Plc gained 1.4 percent as earnings increased. Ryanair Holdings Plc added 2.1 percent after posting an increase in traffic for July.

ING Groep NV fell 3.8 percent as the biggest Dutch lender posted net income that missed analysts’ projections. Neste Oyj lost 7.4 percent as profit fell short of estimates.

Walt Disney Co. dropped 5.6 percent in German trading after posting third-quarter sales that fell short of analysts’ estimates. It also cut its forecast for cable TV profit.