Bloomberg
(05/11) – European stocks were little changed near a five-year high as
investors awaited economic forecasts from the European Union. U.S. index
futures and Asian shares were also little changed.Beiersdorf AG
climbed 4 percent as the maker of Nivea hand cream raised its full-year
sales forecast. Novartis AG increased 1.3 percent as the drugmaker was
said to identify its animal-health business as a top candidate for a
sale.The Stoxx Europe 600 Index advanced 0.1 percent to 322.87
at 8:08 a.m. in London. EU Economic and Monetary Affairs Commissioner
Olli Rehn will speak at a news conference at 10:30 a.m. in Brussels on
the release of autumn economic forecasts. While the euro-area left a
recession in the second quarter of this year and survey data is
improving, the European Central Bank has forecast only a “gradual”
recovery for the region.Standard & Poor’s 500 Index futures
declined 0.1 percent today, after the U.S. gauge closed at a record. The
MSCI Asia Pacific Index slipped less than 0.1 percent.