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By Bloomberg

European stocks were little changed from a record as investors assessed corporate reports.

Diageo Plc fell 2.1 percent after saying sales unexpectedly slipped in the third quarter as business deteriorated across Europe, Asia and Latin America. Unilever advanced 4.5 percent after the maker of Magnum ice cream reported first-quarter sales growth that beat estimates.

The Stoxx Europe 600 Index slipped 0.1 percent to 413.82 at 8:12 a.m. in London. The equity benchmark is still up 21 percent this year. It rose to a new high Wednesday after European Central Bank President Mario Draghi said monetary policy is helping the economic recovery and quantitative easing will continue until there’s a sustained improvement in inflation.

“We need to remember that Europe stocks are up a long way this year so there is room for a pause for breath,” said William Hobbs, head of equity strategy at Barclays Plc’s wealth- management unit in London. “There were some mixed results this morning and the news flow on Greece is still very patchy. The equity market would get very nervous if a Greek accident comes about.”

German Finance Minister Wolfgang Schaeuble late Wednesday ruled out further concessions to the Mediterranean nation, saying it’s up to its government to commit to the reforms needed to release aid rather than give false hopes to its people. The ASE Index reversed earlier losses Thursday, rising 0.3 percent.

Germany’s DAX Index lost 0.6 percent, while Spain’s IBEX 35 Index fell the most among 18 western-European markets.

Also among companies releasing results Thursday, SABMiller Plc gained 2.6 percent after the world’s second-biggest brewer posted better-than-expected quarterly beer sales.

Airbus Group NV rose 2.7 percent after proposing a buyback of as much as 10 percent of its shares.

Automakers Gain

Daimler AG and Renault SA pushed a gauge of automakers to the best performance of the 19 industry groups on the Stoxx 600. A report from the European Automobile Manufacturers’ Association showed car sales growth accelerated to the fastest pace in 15 months in March as the region’s economy improved.

A measure of energy stocks climbed for an eighth day as oil traded near the highest price this year amid speculation a slowdown in the U.S. shale boom will ease the biggest supply glut since 1930.

Holcim Ltd. added 2.3 percent after its second-biggest shareholder signaled it may accept the merger of the Swiss cement maker with French rival Lafarge SA if it gets a board seat at the combined entity.

Investors may also look Thursday to U.S. data on housing starts and initial jobless claims for clues as to when the Federal Reserve will raise rates.