European stocks advanced for a second day as A.P. Moeller-Maersk A/S and Imperial Tobacco Group Plc climbed after posting earnings.

Maersk jumped 4.9 percent after the world’s biggest container-shipping line raised its full-year profit forecast. Imperial Tobacco added 2.2 percent after reporting a smaller sales decline than analysts had predicted. Balfour Beatty Plc gained 3.8 percent as Carillion Plc increased its offer for the builder. BHP Billiton Ltd. dropped 4.9 percent after the mining company posted annual profit that missed analysts’ estimates.

The Stoxx Europe 600 Index gained 0.6 percent to 335.6 at 4:30 p.m. in London, extending the rebound from its Aug. 8 low to 3.3 percent. The equity benchmark rallied 1.2 percent yesterday as talks between Ukraine and Russia eased concern about the conflict between the two countries.

“Results have been mostly good until now in Europe, although not spectacular,” said Pierre Mouton, who helps oversee $8 billion at Notz, Stucki & Cie. in Geneva. “For the first time in two years, we have seen an uptick in earnings estimates for Europe. It’s very important especially in the context of relatively weak economic figures for the euro zone.”

Earnings for Euro Stoxx 50 Index companies will probably rise to 220.35 euros on average this year. Analysts projected profit of 217.79 euros as recently as July 30, according to data compiled by Bloomberg.

The Federal Reserve releases the minutes of its July 29-30 policy meeting tomorrow, while the Bank of England publishes the minutes from its August session. Both central banks are considering when to start raising interest rates in their respective countries.

Jackson Hole

On Thursday, central bankers including Fed Chair Janet Yellen and European Central Bank President Mario Draghi meet in Jackson Hole, Wyoming, to discuss their outlook for the economy and monetary policy.

A Commerce Department report showed that U.S. housing starts climbed to an annualized 1.09 million in July from a revised 945,000 in June. That was the fastest rate in eight months and more than the median economist estimate of 965,000.

National benchmark indexes climbed in every western European market except Ireland and Iceland. The U.K.’s FTSE 100 rose 0.6 percent, while Germany’s DAX rallied 1 percent. France’s CAC 40 increased 0.6 percent.

Maersk advanced 4.9 percent to 14,160 kroner after saying it expects full-year underlying profit to reach $4.5 billion. It had forecast $4 billion. The container shipper reported second quarter earnings before interest, taxes, depreciation and amortization of $3.09 billion, exceeding the average analyst projection. It also announced a share-buyback program of about $1 billion over the next 12 months.

Tobacco Sales

Imperial Tobacco added 2.2 percent to 2,581 pence after saying sales fell 1 percent in the nine months through June. The maker of Gauloises cigarettes said an improving market in Europe offset a decline in Russia and the Middle East. Analysts surveyed by Bloomberg News had expected revenue to drop 2 percent. Europe’s second-biggest tobacco company reiterated its forecast for dividend growth of at least 10 percent this year.

Balfour Beatty gained 3.8 percent to 257.5 pence after Carillion offered to buy the company for 2.09 billion pounds ($3.5 billion). Carillion reiterated that it expects Balfour Beatty to stop the sale of its U.S. infrastructure consulting business, Parsons Brinckerhoff, if the proposed merger goes ahead. Balfour Beatty abandoned talks with Carillion in late July, saying that it would proceed with the sale of the unit.

ThyssenKrupp AG climbed 2 percent to 21.48 euros after Handelsblatt reported that the German steelmaker wants to exit its stairways business and a submarine shipyard in the long term. The company also plans to double its adjusted earnings before interest and taxes in the medium term, the newspaper reported, citing unidentified people familiar with the matter.

Wood Group

John Wood Group Plc rallied 4.9 percent to 788.5 pence. The oil-and-gas engineer said first-half pretax profit rose 32 percent to $233.3 million as it continued to benefit from the shale market in the U.S. The average of two analyst projections in a Bloomberg survey had called for $182 million.

Sixt SE advanced 3.2 percent to 28.43 euros after saying second-quarter Ebit rose to 50.9 million euros ($68 million) from 43.1 million euros a year earlier. The vehicle-rental company forecast an increase in operating revenue in 2014.

BHP Billiton declined 4.9 percent to 1,965 pence after the world’s biggest mining company reported full-year profit of $13.4 billion. That missed the average analyst prediction of $13.6 billion.

A gauge of mining stocks posted the worst performance among 19 industry groups in the Stoxx 600. Fresnillo Plc, which extracts gold and silver from its facilities in Mexico, declined 3 percent to 973 pence and Anglo American Plc dropped 1.3 percent to 1,578.5 pence.

Jyske Bank A/S retreated 5 percent to 299.50 kroner. The Danish lender reported second-quarter net income of 2.42 billion kroner ($432 million), trailing the average analyst estimate of 2.56 billion kroner.