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European stocks were little changed as investors awaited central-bank meetings, and as the Federal Reserve said it saw a modest to moderate recovery in the world’s biggest economy. U.S. stock futures and Asian shares were also little changed.
The Stoxx Europe 600 Index fell 0.1 percent to 301.93 at 10:51 a.m. in London. The gauge lost 2.4 percent last week on concern the U.S. and its allies would take military action against Syria after chemical-weapon attacks that President Barack Obama’s administration said killed more than 1,400 people.
The euro-area economy expanded 0.3 percent in the three months through June. Recent economic indicators point to a further recovery in the second half as an index of services and factory output climbed to the highest level since June 2011 and economic confidence soared to a two-year high.
Policy makers meeting in Frankfurt today will keep the European Central Bank’s benchmark interest rate unchanged at a record low of 0.5 percent, according to economists in survey. The central bank will announce its interest-rate decision at 1:45 p.m. and President Mario Draghi will hold a press conference 45 minutes later.
The Bank of England will keep its quantitative-easing program at 375 billion pounds ($585 billion) and hold the benchmark rate at a low of 0.5 percent, according to separate surveys of economists. That decision is due at noon in London.
The Senate Foreign Relations Committee voted to authorize Obama to conduct a limited U.S. military operation in Syria, the first step toward congressional endorsement of the effort. The full Senate is expected to consider the resolution on Sept. 9.
Aker slid 2.8 percent to 90.40 kroner. Nomura cut its rating on the oil services group controlled by billionaire Kjell Inge Roekke to reduce from buy.
Altran Technologies (ALT) slid 5.5 percent to 5.48 euros as it reported net income for the first half of this year of 15.1 million euros ($19.9 million), compared with 30.3 million euros a year earlier. The engineering and technology consulting company forecast a “much brighter” second half and said that it is confident of reaching its 2015 targets.
Schweizerische National-Versicherungs-Gesellschaft AG (NATN), a provider of insurance products, lost 2.1 percent to 42.45 Swiss francs after it reported first-half net income fell to 53 million francs ($56 million) from 56.6 million francs last year.
Peugeot (UG), Europe’s second-biggest automaker, rose 2.4 percent to 10.93 euros. CEO Philippe Varin forecast an increase in market share in the third quarter, according to an interview with Le Parisien.
FTSE 100 6,484.59 +9.85 +0.15%
CAC 40 3,983.89 +3.47 +0.09%
DAX 8,191.3 -4.62 -0.06%