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European stocks fell, heading for a second week of losses, as investors awaited a referendum that may lead to Crimea’s secession from Ukraine. U.S. stock-index futures were little changed, while Asian shares slid.
The Stoxx Europe 600 Index declined 0.5 percent to 322.87 at 9:57 a.m. in London. The benchmark gauge has fallen 3.1 percent this week as Russia and Ukraine continued their standoff over Crimea, and China reported worse-than-expected economic data. Standard & Poor’s 500 Index futures added 0.2 percent. The MSCI Asia Pacific Index dropped 1.7 percent.
Data at 9:55 a.m. New York time may show consumer confidence in the U.S. improved in March. The Thomson Reuters/University of Michigan preliminary index rose to 82 this month from 81.6 in February, according to the median estimate in a Bloomberg survey.
HeidelbergCement fell for a third day, dropping 2.7 percent to 59.04 euros. Berenberg downgraded construction stocks including the German company to hold from buy, citing shareprice increases over the past year. A gauge of building-related companies has risen 18 percent in the past 12 months for the fourth biggest gain of the 19 industry groups on the Stoxx 600.
Pandora fell 3.4 percent to 347 kroner. Funds managed by Danish private-equity firm Axcel, Pewic Holding ApS and Christian Algot Enevoldsen offered 13 million shares in the transaction, according to a statement from JPMorgan Chase & Co., which is managing the sale along with Goldman Sachs Group Inc. and Nordea Bank AB. Shares in the company more than doubled over the past year.
Mining companies declined as copper headed for its third weekly loss, the longest streak since June, amid concern over growth in China, the world’s biggest consumer of commodities.
Antofagasta Plc, the copper company controlled by Chile’s billionaire Luksic family, fell 0.8 percent to 828.5 pence. Rio Tinto Group slipped 0.8 percent to 3,136 pence.
FTSE 100 6,538.49 -15.29 -0.23 %
CAC 40 4,219.52 -30.99 -0.73 %
DAX 8,980.14 -37.65 -0.42 %
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