Stocks in Asia, Europe advance

Stocks rose in Europe and Asia, pushing the MSCI World Index higher for a fifth day, as declining money-market rates bolstered confidence the financial crisis is ebbing. US index futures were little changed.

BHP Billiton Ltd, the world's biggest mining company, advanced 3.7 percent. Siemens AG, Europe's largest engineering company, climbed 4.2 percent. HBOS Plc rallied 4.2 percent on speculation the mortgage lender may receive a rival bid to Lloyds TSB Group Plc.

The MSCI World added 0.7 percent to 964.36 at 11:07 am in London, as nine of the 10 industry groups increased. The gauge of 23 developed countries headed for the longest winning streak since July as money-market rates fell in Europe and Asia on speculation central banks will keep cutting interest rates to spur lending and shore up the economy.