European Stocks Little Changed, Struggling After Weak Industrial Output

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European shares struggled after an unexpected drop in industrial output.

Eurostat said industrial production across the region fell 1.5% in July from June, the biggest fall since September last year. Economists in a Dow Jones poll had anticipated a slight rise.

French CPI rose 0.5% in August from the previous month. Prices were 0.9% higher than in August 2012, France's statistics bureau Insee said. The figures came in slightly lower than expected by economists surveyed by Dow Jones Newswires, who had predicted a 0.6% increase on the month, and 0.9% on the year.

Bank of England Governor Mark Carney said at a parliamentary hearing "the prospects of sustainable growth have increased" while reiterating he won't start tightening until unemployment falls to 7%.

In ADR news, Sanofi ( SNY ) withdrew a U.S. application for FDA approval of an experimental drug called lixisenatide for diabetes.

The FTSE-100 was last up 0.01% at 6,588.98, the DAX down 0.02% at 8,494.00 and the CAC-40 down 0.3% at 4,106.63.



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This article appears in: Investing , Commodities

Referenced Stocks: SNY

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