European stocks struggled to gain after German investor
confidence missed forecasts.
German investor confidence dropped in February, with the ZEW
indicator of economic sentiment declining 6 points to 55.7 and
missing analysts expectations. The drop marks the second weakening
in a row, after the January survey fell to 61.7, after reaching a
seven-year high of 62 in December.
In other news around the region, UK CPI slowed in January to an
annual rate of 1.9% from 2.0% a month earlier. The annual rate of
inflation was last lower in October 2009. The BOE's target is
The eurozone's current account decreased in adjusted terms to a
surplus of 21.3 billion euros ($29.2 billion) in December from a
downwardly revised EUR23.3 billion in November, which was an
European car sales grew for the fifth month in a row in January,
rising 5.5% from a year earlier to 935,640 vehicles, according to
the latest data from the Association of European Automobile
In the United States, the Empire State index fell more than
expected to 4.5 in February, and a gauge of confidence among home
builders plunged in February to the lowest level in nine
In ADR news, Delhaize Group (
) was upgraded to overweight from equal weight at Morgan Stanley,
according to Dow Jones Newswires.
Veolia Environnement (
) has agreed to supply and treat water for Royal Dutch Shell PLC's
(RDS.A) Carmon Creek heavy-oil project in Canada. VE will supply
the 50,000 tons of steam a day needed to produce as many as 80,000
barrels of oil a day, the French company said. The company will
recycle about 99% of the water used in the project.
InterContinental Hotels Group Plc (
) said renovation costs will hurt this year's earnings. Operating
profit before exceptional items and tax in 2013 climbed to $668
million from $605 million a year earlier.
The FTSE-100 was last up 0.9% at 6,796.43, the DAX up 0.03%
9,659.78 and the CAC-40 down 0.1% at 4,330.71.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.