European stocks were little changed this week as uncertainty in Cyprus and a political deadlock in Italy overshadowed better-than-estimated U.S. and German economic data.
The Stoxx Europe 600 Index (SXXP) fell 0.1 percent in a four-day week before the Easter holiday, after declining the most in four months the previous week.
In Europe, German retail sales unexpectedly climbed in February, rising 0.4 percent. That followed a revised 3 percent in January and compared to the median economist forecast for a 0.6 percent decline.
National benchmark indexes still fell in 14 of the 18 western European markets.
FTSE 100 6,411.74 +24.18 +0.38% CAC 40 3,731.42 +19.78 +0.53% DAX 7,795.31 +6.22 +0.08%
Espirito Santo (BES), Portugal’s biggest publicly traded bank, plunged 12 percent in Lisbon. Banco Comercial Portugues SA, the second-largest, lost 10 percent.
Kazakhmys Plc tumbled 16 percent as it cut its 2012 dividend by 60 percent to 11 cents a share and reported a full- year loss after the value of its stake in Eurasian Natural Resources Corp. dropped by more than half.
Telefonica SA slumped 8.3 percent after Spain’s biggest telephone operator sold about 975 million euros worth of treasury stock to help reduce its debt.
Ziggo rallied 13 percent after John Malone’s Liberty Global paid about 632.5 million euros for a stake in the Dutch cable- television operator from Barclays Plc after the U.K. lender last week failed to find enough buyers in a share sale.
U.S. stock futures were little changed as data showed jobless claims increased more than forecast and the world’s biggest economy grew less than estimated in the final three months of 2012.
Global Stocks:
Nikkei 12,335.96 -157.83 -1.26%
Hang Seng 22,299.63 -165.19 -0.74%
Shanghai Composite 2,236.3 -64.96 -2.82%
FTSE 6,426.62 +39.06 +0.61%
CAC 3,732.07 +20.43 +0.55%
DAX 7,813.75 +24.66 +0.32%
Crude oil $96.38 -0.21%
Gold $1599.90 -0.39%
Other:
Boeing (BA) target raised to from $82 $88 at Imperial Capital
European stocks climbed, extending their third consecutive quarterly gain, as a report showed retail sales unexpectedly increased in Germany last month.
“German retail sales are a positive for market participants ahead of the Easter break,” said Norman Villamin, who helps oversee about $44 billion as European chief investment officer at Coutts & Co. “But they just reinforce the idea that Europe is running a two-speed economy. In Cyprus, banks open for the first time since the onset of its crisis today, and we will focus not on what are likely to be long lines, but rather whether the capital controls are extended beyond the four days proposed.”
D.E Master Blenders 1753 NV surged the most since its initial public offering after the coffee and tea company spun off by Sara Lee Corp. said Joh. A. Benckiser may take it over.
Ziggo NV rose to its highest price in two weeks as Liberty Global Inc. bought a 12.65 percent stake in the Dutch cable- television operator.
FTSE 100 6,403.77 +16.21 +0.25%
CAC 40 3,719.48 +7.84 +0.21%
DAX 7,806.95 +17.86 +0.23%Change % Change Last
Nikkei 225 12,493.79 +22.17 +0.18%
Hang Seng 22,464.82 +153.74 +0.69%
S&P/ASX 200 4,994.99 +44.75 +0.90%
Shanghai Composite 2,301.26 +3.59 +0.16%
FTSE 100 6,385.36 -14.01 -0.22%
CAC 40 3,712 -36.64 -0.98%
DAX 7,792.41 -87.26 -1.11%
Dow -33.18 14,526.47 -0.23%
Nasdaq +4.06 3,256.54 +0.12%
S&P -0.56 1,563.21 -0.04%
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