European
stocks were little changed, after rising four times in the past five
sessions, as investors weighed earnings reports and gains in energy
producers.
Deutsche
Bank AG slid 2.3 percent after posting its first annual loss since
2008. Hennes & Mauritz AB dropped 3.5 percent after its
fourth-quarter earnings missed analysts’ estimates. Seadrill Ltd. and
Subsea 7 SA climbed at least 4.7 percent, leading an advance in
oil-and-gas companies.
The
Stoxx Europe 600 Index dropped less than 0.1 percent at 8:17 a.m. in
London. U.S. equities fell yesterday amid bad earnings and after the
Federal Reserve indicated no discernible shift in its stance. Officials
reiterated they will raise rates at a gradual pace, while watching to
see the effect of the global economy and markets on the U.S. outlook.
Worries
about global growth amid a rout in oil prices and a slowdown in China
have weighed on stocks in 2016, sending the Stoxx 600 down 7 percent.
That puts it on course for the worst January since 2008. Still,
speculation of more stimulus from the European Central Bank and
better-than-forecast earnings from some companies have helped staunch
losses after the benchmark sank to its lowest level since October 2014
last week.
Source: Bloomberg
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