TOKYO: European stocks were little changed, with the Stoxx Europe 600 Index heading for a weekly advance, as gains in industrial companies offset declines in energy stocks.
The Stoxx 600 added 0.1 percent to 395.71 at 9:12 a.m. in London. The equity gauge is heading for a weekly rise of 0.4 percent, as the weaker euro boosted exporters, and the European Central Bank commenced its asset-buying program, known as quantitative easing. These outweighed investor concerns that the Federal Reserve may signal earlier rate increases at its meeting next week.
“Eurozone equities have had quite a good run in the past few weeks and it should continue for the given reasons, like QE and a better macroeconomic environment,” Christoph Riniker, the Zurich-based head of strategy research at Julius Baer Group Ltd. said by phone. “The market is expecting a June Fed rate hike, but no big changes this month. There is some uncertainty regarding the date, but not really elevated.”
