European stocks fell after inflation dropped in January,
sparking worries of deflation.
Inflation in the euro zone dropped to 0.7% in January from 0.8%
in December, falling short of estimates and hitting the lowest
level since October. Economists expected a 0.9% rise.
Euro-area unemployment held at 12% in December, slightly better
than expectations for 12.1%. November was revised to 12%, down from
a record 12.1% in September.
Spain's European Union-harmonized consumer price index rose 0.3%
on the year, the same as in December.
The monthly UK consumer confidence index from research firm GfK
rose to -7 in January from -13 in December. That was the highest
level since September 2007 and more than reversed the single-point
declines reported in the index in recent months.
In ADR news, Diageo Plc (
) is downgraded to neutral from buy at Goldman Sachs, citing
continued challenges to growth in emerging markets.
BT Group (
) reported Q3 adjusted earnings before interest, taxes,
depreciation and amortization of 1.54 billion pounds ($2.54
billion). The average prediction of analysts surveyed by Bloomberg
was for 1.5 billion pounds.
Deutsche Bank (
) is cut to equal weight from overweight at Barclays.
Novo Nordisk (
) is raised to buy from neutral at Swedbank AB, citing a number of
phase-three treatment studies that will help it expand its product
offering in the next six to 18 months.
The FTSE-100 was last down 0.43% at 6,510.44, the DAX down 0.71%
at 9,306.48 and the CAC-40 down 0.34% at 4,165.72.
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