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European stocks were little changed, with the Stoxx Europe 600 Index heading for a weekly advance, as companies from Kering SA to Renault SA reported quarterly sales that missed projections, offsetting gains in BASF SE. U.S. index futures were little changed, while Asian shares fell.
U.S. data today may show orders for durable goods increased 2.3 percent in September after a 0.1 percent gain in the prior month, according to the median estimate before a Commerce Department report at 8:30 a.m. in Washington.
Kering dropped 2.1 percent to 169 euros after the luxury-goods maker said third-quarter sales from continuing operations fell to 2.52 billion euros ($3.48 billion). Analysts predicted 2.55 billion euros, according to the median estimate compiled by Bloomberg. Gucci’s sales rose 0.6 percent, less than projections for 2.1 percent growth, and the weakest performance since the third quarter of 2009.
Renault declined 2.7 percent to 66.40 euros. Sales fell 3.2 percent to 8 billion euros from a restated 8.26 billion euros a year earlier, the Boulogne-Billancourt, France-based company said late yesterday. Revenue was less than the 8.5 billion-euro average of six analyst estimates.
BASF, the world’s largest chemical maker, rose 1.6 percent to 75.39 euros. Third-quarter Ebit excluding one-time items jumped 15 percent to 1.69 billion euros, beating the average analyst estimate of 1.62 billion euros, according to a statement today.
FTSE 100 6,720.51 +7.33 +0.11%
CAC 40 4,270.87 -4.82 -0.11%
DAX 8,980.01 -0.62 -0.01%
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