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European stocks were little changed, after the Stoxx Europe 600 Index fell to its lowest level in more than six weeks, as investors awaited U.S. labor data.
In Germany, the Bundesbank cut its forecasts for growth in Europe's largest economy for this year and next. The Frankfurt-based central bank reduced its 2013 growth projection to 0.3 percent from the 0.4 percent predicted in December, and said the economy would expand by 1.5 percent in 2014, compared with the previous estimate of 1.9 percent.
KPN rallied 5.1 percent to 1.53 euros. Sanford Bernstein raised its recommendation on the Dutch phone operator partly owned by Carlos Slim's America Movil SAB to outperform from market perform, meaning investors should buy the shares.
Ipsen rose 2.1 percent to 27.61 euros after Goldman Sachs upgraded its rating on the French drugmaker to buy from neutral, citing a turning point in its transition to growth.
Deutsche Telekom climbed 0.9 percent to 8.76 euros. Ulrich Rathe, an analyst at Jefferies, raised the stock to buy from hold and increased his price estimate by 23 percent to 9.70 euros, citing the company's structural changes.
FTSE 100 6,327.36 -8.75 -0.14%
CAC 40 3,808.97 -5.31 -0.14%
DAX 8,069.99 -28.82 -0.36%
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