ROME: European stocks were little changed as declines in commodity producers and Credit Suisse Group AG offset gains in ARM Holdings Plc and Reckitt Benckiser Group Plc.
Miners fell for a fourth day as commodity prices slipped amid global growth concerns, with Rio Tinto Group and Glencore Plc weighing heaviest. Credit Suisse lost 2.7 percent after saying it will raise about 6.05 billion Swiss francs ($6.3 billion) of capital. Nordea lost 4.4 percent after Scandinavia’s biggest bank said quarterly profit fell 17 percent as record-low interest rates eroded revenue. ARM jumped 7.9 percent after third-quarter revenue beat analysts’ estimates. Reckitt Benckiser climbed 2.3 percent after raising its full-year growth target following better-than-expected sales.
The Stoxx 600 rose less than 0.1 percent to 362.74 at 10:26 a.m. in London, after earlier falling as much as 0.8 percent. Worse-than-expected Japanese trade data underscored the fragility of the world economy, while Chinese stocks tumbled amid uncertainty over valuations after the recent rally. Today’s swings came amid investor gloom prompted yesterday after data showing an improvement in euro-area lending conditions damped the likelihood of further European Central Bank stimulus to spur the euro-area economy.
