European Stocks Steady as Focus Remains on Rates, Growth Outlook
European stocks were muted after Thursday’s gains, with investors focusing on the path for interest rates and the economy.
The Stoxx Europe 600 Index was little changed by 8:17 a.m. in London. The auto and mining sectors were the biggest outpeformers, while technology and media shares lagged.
European shares are within 1.6% of their March record, buoyed by a resilient global economy. Equity strategists surveyed by Bloomberg expect the benchmark to reach fresh records before the end of the year, boosted by improving earnings and falling US rates.
Investors will be awaiting a slew of Purchasing Managers’ Index readings due next week in countries including Germany, the UK and the US for clues about growth.
Meanwhile, European stock funds saw $300 million outflows in the week ending on Sept. 17, according to Bank of America Corp. survey that cited EPFR Global data.
Source: Bloomberg.com
