European Stocks Are Little Changed After Weekly Decline


By Jonathan Morgan

European stocks were little changed, following their first weekly slide in more than a month, amid mergers-and-acquisitions activity and after Chinese economic data. U.S. index futures were also little changed, while Asian shares fell.

SABMiller Plc and Heineken NV advanced more than 2.5 percent after the U.K. brewer was rebuffed in an attempt to buy the Dutch company. Hennes & Mauritz AB climbed 2.5 percent after reporting a gain in third-quarter sales. TDC A/S lost 7.1 percent after Denmark’s largest telephone company agreed to buy cable-TV provider Get AS and said it will cut its dividend. Air France-KLM Group slid 3.5 percent after saying it expects its most disruptive strike since 1998.

The Stoxx Europe 600 Index slipped less than 0.1 percent to 344.06 at 9:27 a.m. in London, paring losses of as much as 0.4 percent. The benchmark gauge slid 1 percent last week, the first loss since the week ended Aug. 8, as investors considered central bank stimulus policies and opinion polls before a Scottish referendum this week.

Standard & Poor’s 500 Index futures declined 0.2 percent, while the MSCI Asia Pacific Index retreated 0.7 percent.

Factory production in China rose 6.9 percent in August from a year earlier, the statistics office reported Sept. 13. That’s down from 9 percent in July and below the 8.8 percent growth that economists had predicted. It was the slowest pace since December 2008 outside the Lunar New Year holiday period of January and February. Retail sales expanded 11.9 percent, trailing the forecast 12.1 percent and down from 12.2 percent in July. Growth in fixed-asset investment slowed to 16.5 percent.

In the U.S., a report will probably show that industrial production advanced 0.3 percent in August after gaining 0.4 percent the previous month, according to the median estimate of economists surveyed by Bloomberg News.

To contact the reporter on this story: Jonathan Morgan in Frankfurt at [email protected]

To contact the editors responsible for this story: Cecile Vannucci at [email protected]



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