ROME: European stocks were little changed, after seven days of gains, as Ericsson AB and Volvo AB rose after reporting results, while investors watched Greek developments.
Ericsson advanced 5.7 percent after reporting second-quarter sales that beat analysts’ projections, while Volvo gained 1.1 percent after saying operating profit surged. Credit Suisse Group AG led Swiss shares to the worst performance among western-European markets, falling 1.9 percent after Deutsche Bank AG downgraded the shares to hold.
The Stoxx Europe 600 Index added less than 0.1 percent to 405.77 at 8:16 a.m. in London. German lawmakers will pass their verdict on Greece’s bailout package on Friday. If approved, it will pave the way for creditors to start talks with Greece to grant it aid of as much as 86 billion euros ($94 billion).
The Stoxx 600 has rebounded 8.9 percent from a July 7 low amid optimism over Greece, after almost entering a correction. The gauge is up 4.4 percent this week, the most since January.
Among other stocks moving on corporate news, Electrolux AB rallied 4.3 percent as its second-quarter profit topped estimates. Givaudan SA rose 4.6 percent after the world’s largest flavors and fragrance company reported a surprise increase in first-half earnings.
Deutsche Telekom AG dropped 0.8 percent after people with knowledge of the matter said Dish Network Corp.’s talks to acquire T-Mobile US Inc. from the Germany company have stalled. Fortum Oyj lost 6.1 percent after reporting a decline in quarterly profit and saying a slowdown in Asia and the European macro-economic situation could lead to more uncertainty.
