European Stocks Little Changed, Heading for Seventh Weekly Gain

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European stocks were little changed, with the Stoxx Europe 600 Index heading for a seventh weekly advance, as investors awaited data on U.S. business activity. U.S. futures and Asian shares were also little changed.

Societe Generale SA slipped 2.1 percent after Les Echos reported that the French bank��s Russian unit posted a decline in first-quarter profit. BNP Paribas SA lost 5.1 percent as a person familiar with the matter said U.S. authorities are seeking more than $10 billion from the bank to settle investigations into dealings with sanctioned countries.

The Stoxx 600 fell 0.1 percent to 344.14 at 8:04 a.m. in London. The benchmark gauge has gained 1.9 percent in May as European Central Bank President Mario Draghi pledged to ease monetary policy in June if necessary. Standard & Poor��s 500 Index futures slipped 0.2 percent today, while the MSCI Asia Pacific Index lost 0.2 percent.

The Thomson Reuters/University of Michigan consumer sentiment index slipped to 82.5 in May from 84.1 in April, according to the median estimate of analysts surveyed by Bloomberg News.

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Japan Topix Index Rises to Cap First Monthly Advance This Year

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Japan Topix index swung to a gain in the final minute of trading, capping the first monthly increase this year, as tiremakers and power producers climbed.

Tokyo Electric Power Co. surged as much as 14 percent on a report the government is considering revising the law for compensation after nuclear accidents. Bridgestone Corp., Asia��s biggest manufacturer of tires, added 1.7 percent. Credit Saison Co. extended yesterday��s slump after Credit Suisse Group AG cut its target price for the consumer lender.

The Topix added less than 0.1 percent to 1,201.41 at the close in Tokyo after rising as much as 0.4 percent and dropping 0.2 percent. An equal numbers of shares rose as fell. The measure posted a 3.4 percent gain this month, its first since December. The Nikkei 225 Stock Average today dropped 0.3 percent to 14,632.38. A report today showed inflation accelerated in April following an increase in Japan��s consumption levy.

Japan��s consumer prices gained the most since 1991, swelled by the levy increase and the Bank of Japan��s unprecedented stimulus. Inflation excluding fresh food accelerated to 3.2 percent year on year in April, the statistics bureau reported, compared with the 3.1 percent median estimate of 32 economists in a Bloomberg News survey.

Industrial production fell 2.5 percent in April compared with the previous month, more than the 2 percent decline estimated by economists.

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European Stock-Index Futures Are Little Changed; SocGen May Move

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European stock-index futures were little changed, as the Stoxx Europe 600 Index heading for a seventh weekly advance. U.S. futures and Asian shares were also little changed.

Societe Generale SA may move after Les Echos reported that the French bank��s Russian unit posted a decline in first-quarter profit. BNP Paribas SA may be active as a person familiar with the matter said U.S. authorities are seeking more than $10 billion from the bank to settle investigations into dealings with sanctioned countries.

Futures on the Euro Stoxx 50 Index expiring next month fell 0.1 percent to 3,236 at 7:17 a.m. in London. Contracts on the U.K.��s FTSE 100 Index dropped less than 0.1 percent. Standard & Poor��s 500 Index futures slipped 0.2 percent, while the MSCI Asia Pacific Index lost 0.1 percent.

In the U.K. house prices rose for a 15th month and consumer confidence increased to a nine-year high on an improving outlook for the economy. Hometrack Ltd. said home prices in England and Wales increased 0.5 percent in May after a 0.6 percent advance in April. Separately, GfK NOP Ltd. said its sentiment index jumped 3 points to 0 this month, the first time there hasn��t been a negative reading since April 2005.

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Hong Kong Stocks Head for Biggest Monthly Gain Since September

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Stocks in Hong Kong and mainland China headed for May gains, with the Hang Seng Index poised for its steepest monthly rally since September, amid optimism that stimulus will lessen an economic slowdown.

The benchmark measure of Hong Kong stocks added 0.2 percent to 23,062.25 at the midday-break in the city, set for a 4.2 percent jump in May. The Hang Seng China Enterprises Index of mainland companies rose 0.5 percent, extending its monthly advance to 4.7 percent. On the mainland, the Shanghai Composite was little changed at 2,040.64 today and is 0.7 percent higher on the month.

The Hang Seng Index is less than 2 percent away from erasing this year��s losses as China enacts measures to revive the economy without repeating the mistakes of its $586 billion stimulus begun in 2008.

Among shares that moved today, Sinotrans Ltd., a logistics services company, surged 7.6 percent in Hong Kong after it was rated outperform by Standard Chartered Plc. In Shanghai, Xinjiang Ba Yi Iron & Steel Co. and Xinjiang Tianfu Thermoelectric Co. jumped 10 percent after President Xi Jinping pledged to promote the development of the northwest province. Wuhan Guide Infrared Co. advanced 4.4 percent in Shenzhen after the Xinhua News Agency said the nation will open the defense industry to private investors.

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Japan Topix Swings, Poised for First Monthly Gain This Year

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Japanese shares swung between gains and losses, with the Topix index headed for its first monthly advance this year, as tiremakers rose and consumer lenders fell.

Credit Saison Co. extended yesterday��s slump after Credit Suisse Group AG cut its target price for the non-bank lender. Mitsubishi Estate Co., the country��s biggest developer, dropped 1.1 percent. Bridgestone Corp., Asia��s biggest producer of tires, climbed 0.9. percent. Toyota Motor Corp., the world��s largest carmaker, provided the biggest boost to the Topix.

The Topix slid 0.2 percent to 1,198.78 at the trading break in Tokyo, with about equal numbers of shares rising and falling. The measure is on course for a 3.1 percent gain this month, its first since December. The Nikkei 225 Stock Average dropped 0.6 percent today to 14,601.52. Data today showed inflation accelerated in April following an increase in Japan��s consumption levy while industrial production fell.

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