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European stocks erased their advance as a report showed German business confidence fell short of economists’ estimates this month. U.S. index futures were little changed, while Asian shares retreated.
In Germany, a report showed that business confidence increased at a slower-than-forecast pace in September. The Ifo institute’s business-climate index, based on a survey of 7,000 executives, advanced to 107.7 from a revised 107.6 in August, falling short of the median economist forecast of 108.
Fed Bank of Cleveland President Sandra Pianalto will deliver a keynote address at the Chicago Fed’s payments symposium at 8:30 a.m. local time. Fed Bank of Kansas President Esther George speaks at the conference at noon local time, after European markets close.
Telecom Italia climbed 2.4 percent to 60.4 euro cents. Telefonica agreed to pay 324 million euros ($437 million) to increase its stake in Telco SpA, a holding company that owns 22.4 percent of Telecom Italia, to 66 percent from 46 percent.
Total added 1.9 percent to 42.94 euros after Barclays raised its recommendation on the stock to equal weight, which is similar to neutral, from underweight. The brokerage said Europe’s third-biggest oil company can better control its capital expenditure more than it had predicted. Total gave detailed capital-spending plans for exploration and production at its investor day, according Barclays.
Burckhardt tumbled 7.1 percent to 359.25 Swiss francs after saying that lower-than-expected gross ">FTSE 100 6,560.86 +3.49 +0.05%
CAC 40 4,191.05 +18.97 +0.45%
DAX 8,643.97 +8.68 +0.10%
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