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European stocks were little changed, after rallying yesterday to a six-year high, as investors weighed corporate earnings and awaited data on American jobless claims. U.S. index futures and Asian shares were little changed.
The Stoxx Europe 600 Index slipped 0.1 percent to 334.14 at 9:53 a.m. in London. The benchmark climbed yesterday to its highest level since January 2008 as the World Bank raised its forecast for global economic growth. The measure has added 1.8 percent in January, after rallying 17 percent in 2013. Standard & Poor’s 500 Index futures and the MSCI Asia Pacific Index fell less than 0.1 percent today.
Richemont dropped 1.9 percent to 87.05 Swiss francs. The owner of the Cartier brand said revenue in the October-December period rose 2.8 percent to 2.94 billion euros. Analysts in a Bloomberg survey had expected sales of 3.05 billion euros.
Carrefour slid 3 percent to 27.44 euros. The retailer said total French sales, excluding petrol, rose 2.2 percent on a comparable basis in the fourth quarter. Total revenue fell 1.5 percent to 22.2 billion euros, in line with the average of four analysts’ estimates.
Royal Ahold NV fell 3.8 percent to 12.67 euros. The biggest Dutch retailer posted fourth-quarter revenue of 7.47 billion euros, missing the median projection of 7.57 billion euros.
Rio Tinto gained 1.6 percent to 3,306 pence. The world’s second-largest mining company cut cash costs by more than $2 billion and halved exploration spending across the range of commodities to $948 million last year, beating the targets set by Chief Executive Officer Sam Walsh. Fourth-quarter iron-ore output climbed 7 percent from a year earlier to 55.5 million metric tons, in-line with the 55.7 million-ton median estimate of analysts.
FTSE 100 6,822.19 +2.33 +0.03%
CAC 40 4,325.2 -6.87 -0.16%
DAX 9,733.03 -0.78 -0.01%
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