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European stocks were little changed, after yesterday’s selloff, as Italy sold 6.5 billion euros ($8.5 billion) of securities.
Italian 10-year securities pared a monthly decline as the Rome-based Treasury sold 4 billion euros of new 10-year bonds at an average yield of 4.83 percent. That’s up from 4.17 percent at a previous auction on Jan. 30. It allotted 2.5 billion euros of five-year notes at 3.59 percent, compared with 2.94 percent at last month’s sale.
Kabel Deutschland slid 2.81 euros to 66.77 euros. Vodafone increased 1.5 percent to 164.35 pence after the company was said to have put on hold plans to approach Kabel about a takeover bid after leaks of a potential offer complicated internal discussions.
Bouygues rallied 7.2 percent to 20.79 euros. France’s second-largest building company reported a 41 percent drop in 2012 profit to 633 million euros as its phone unit suffered from competition. That still beat the average analyst estimate of 584 million euros.
Swiss Life Holding AG jumped 5.4 percent to 147.30 Swiss francs. Switzerland’s biggest life insurer reported a second- half loss of 268 million francs ($288 million) after posting a writedown on its German brokerage AWD Holding AG. The loss was narrower than the average analyst projection of 300 million francs.
FTSE 100 6,281.25 +10.81 +0.17%
CAC 40 3,635.01 +13.09 +0.36%
DAX 7,598.66 +1.55 +0.02%
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