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European stocks were little changed as data showed the euro area’s economy emerged from a record-long recession in the second quarter, led by Germany and France. U.S. futures fell, while Asian shares gained.
Gross domestic product in the 17-nation euro area expanded 0.3 percent in the April-June period after a 0.3 percent contraction in the previous three months, the European Union’s statistics office in Luxembourg said today. That exceeded the median estimate of 0.2 percent growth in a News survey of 41 economists. From a year earlier, the economy shrank 0.7 percent in the second quarter.
The German economy expanded 0.7 percent in the second quarter from the previous period, the Federal Statistics Office in Wiesbaden said today. Economists had forecast a gain of 0.6 percent.
French gross domestic product grew a more-than-anticipated 0.5 percent in the three months through June, the national statistics office Insee said today in Paris. That beat the median estimate of a 0.2 percent increase.
RWE lost 5.5 percent to 21.14 euros. Germany’s second-largest utility said recurrent net income, the measure used to calculate the dividend, climbed to 1.99 billion euros ($2.64 billion) from 1.67 billion euros a year earlier. That missed the 2.1 billion-euro average estimate of 12 analysts surveyed by Bloomberg.
Celesio slid 2.5 percent to 16.07 euros. The German pharmaceutical distributor cut its 2013 forecast to 405 million euros to 425 million euros, down from 445 million euros to 475 million euros, citing discount competition in the German wholesale market and additional negative currency effects.
ThyssenKrupp AG slipped 2.4 percent to 16.43 euros. Germany’s largest steelmaker said it won’t rush the sale of its Steel Americas unit, which is taking longer than expected.
FTSE 100 6,617.11 +5.17 +0.08%
CAC 40 4,107.52 +15.02 +0.37%
DAX 8,428.68 +12.92 +0.15%
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