Azernews.Az

By Bloomberg

After a rebound from their worst weekly drop since July, European stocks were little changed.

The Stoxx Europe 600 Index lost 0.2 percent to 386.63 at 8:14 a.m. in London. Utilities, banks and energy shares led declines, while health-care and technology companies climbed.

European stocks added 0.3 percent yesterday, after slumping 2.7 percent last week as China’s currency devaluation stoked concern it will hurt exporters’ sales.

German stocks are among the most affected by the yuan’s drop, with the DAX Index down 0.2 percent for a third day of losses, taking its decline from a record to 12 percent. The gauge dipped below its 200-day average for the third time in four days on Monday, something it hasn’t done since January.

Data at 9:30 a.m. in London may show U.K. consumer prices remained flat in July from a year earlier. Another report is forecast to show U.S. housing starts increased to a 1.18 million annualized pace from the prior month.

Among shares active on corporate news, Persimmon Plc climbed 1.2 percent after the U.K. homebuilder said first-half profit surged. Jyske Bank A/S advanced 2.9 percent after saying earnings beat its forecasts.

Glencore Plc climbed 1.8 percent. Harris Associates LP, one of its biggest shareholders, increased stake in the miner in the last 30 days, said David Herro, chief investment officer for international stocks.