European stocks are little changed as investors assess results
By Bloomberg
European stocks were little changed as investors assessed company results.
UBS Group AG rose 4 percent as Switzerland’s biggest bank said net income in the first three months of the year almost doubled. Adidas AG added 2.1 percent after reporting first- quarter earnings that topped forecasts.
The Stoxx Europe 600 Index gained 0.1 percent to 397.33 at 8:19 a.m. in London. Shares rebounded Monday after their biggest weekly loss since December, as data showed manufacturers raised prices for the first time in eight months.
The Stoxx 600 lost 3.4 percent last week as the euro rallied and the Federal Reserve left open the prospect of interest-rate increases even amid weak U.S. economic growth.
Infineon Technologies AG advanced 2.6 percent after Germany’s largest chipmaker reported better-than-estimated quarterly sales.
Investors will also watch for the European Commission’s latest economic forecasts for indications of how successful European Central Bank stimulus measures have been in reviving growth in the region.
Data on U.S. trade and service industries is also due Tuesday, with traders looking ahead to Friday’s payrolls numbers amid speculation over the timeline for U.S. rates.
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