FX & CFD trading involves significant risk
European stocks were little changed at a one-week high as companies from Eni SpA to Volkswagen AG posted profit that exceeded estimates, while a gauge of telecommunications companies retreated.
U.S. companies added 130,000 workers in October, fewer than the 150,000 median projection in a survey of economists, according to a report from the ADP Research Institute today. That was the lowest reading since April. Businesses hired a net 145,000 people in September.
The Federal Open Market Committee meets for a second day to discuss monetary policy. The 16-day shutdown of the U.S. government earlier this month will reduce economic growth by 0.3 percentage points this quarter at an annual rate, according to a survey of economists. The central bank will probably delay lowering its $85 billion in monthly bond purchases until March 2014, economists forecast in the survey. The Fed announces its decision after European markets close.
National benchmark indexes dropped in nine of the 18 Western-European markets. The U.K’s FTSE 100 rose less than 0.1 percent, while France’s CAC 40 and Germany’s DAX Index dropped 0.1 percent.
Eni rose 1.3 percent to 18.35 euros after the Italian oil producer posted adjusted net income of 1.17 billion euros ($1.6 billion) for the third quarter, more than the 998 million euros that analysts had predicted for the period.
Volkswagen gained 5 percent to 183.50 euros after posting quarterly earnings before interest and taxes that jumped 20 percent to 2.78 billion euros. That exceeded the average analyst estimate of 2.72 billion euros.
TomTom advanced 3.4 percent to 6.10 euros. The company forecast adjusted earnings of 25 euro cents a share this year. It had projected 20 euro cents apiece. TomTom also said that this year’s sales will approach the upper end of its 900 million euros to 950 million euros range.
Belgacom declined 5.3 percent to 20.51 euros. Telenet Group Holding NV, which competes with Belgacom in Belgium, cut its prices for mobile-phone tariffs. A gauge of telecommunications stocks fell 0.8 percent for the second-worst performance among 19 industry groups on the Stoxx 600.
|remaining time till the new event being published|
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.