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23.09.2013 10:30

European stocks were little changed

European stocks were little changed, following three weeks of gains, as investors weighed the German election result. U.S. index futures and Asian shares were also little changed.

German Chancellor Angela Merkel won 41.5 percent of the vote in her bid for a third term as leader of Europe’s largest economy, according to results from all 299 districts after yesterday’s election. That still leaves her short of a majority, with Merkel needing to find a coalition partner after the Free Democrats failed to win seats in the lower house of parliament.

Euro-area services and manufacturing growth accelerated to the fastest in more than two years in September as demand improved. A composite index based on a survey of purchasing managers in both industries rose to 52.1 from 51.5 in August, Markit Economics said. Economists had forecast 51.8, based on the median of 25 estimates in a survey.

National Grid Plc declined 1.6 percent as UBS AG cut its rating on the stock.

Aberdeen Asset Management Plc climbed 1.9 percent after forecasting full-year profit at the upper end of analyst projections.

FTSE 100 6,582.8 -13.63 -0.21%

CAC 40 4,207.32 +3.66 +0.09%

DAX 8,672.29 -3.44 -0.04%

23.09.2013 12:01

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