European
stocks fluctuated before closing little changed as investors parsed
mixed earnings reports, with miners sliding as the increased possibility
of a Federal Reserve interest rate rise in December weighed on
commodity prices.
Deutsche
Bank AG and Barclays Plc fell more than 6 percent as earnings
disappointed. A gauge tracking resource-related stocks including BHP
Billiton Ltd. and Rio Tinto Group slipped the most on the Stoxx Europe
600 Index as Liberum Capital downgraded the two companies to sell, and
commodities declined as the Fed’s comments boosted the dollar. Danone,
one of the world’s biggest producers of baby formula, climbed 1.5
percent after China said it would abandon its one-child policy.
The
Stoxx 600 retreated less than 0.1 percent to 375.7 at the close of
trading, after earlier falling as much as 0.6 percent and rising 0.4
percent. Europe’s benchmark measure has still climbed 8 percent in
October, rebounding from a quarterly rout and heading for its best
monthly rally since 2009 amid increased stimulus from China and hints of
additional easing from the European Central Bank.
Source : Bloomberg
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