European stocks are waiting for US data

European stocks were little changed, after the Stoxx Europe 600 Index fell to its lowest level in more than six weeks, as investors awaited U.S. labor data. 

Royal KPN NV jumped 5.1% after Sanford C. Bernstein & Co. raised its recommendation on the shares. 

Ipsen (IPN) SA rose 2.1% after Goldman Sachs Group Inc. recommended buying the stock. 

Deutsche Telekom AG added 0.9% after Jefferies Group LLC upgraded its rating. 

The Stoxx 600 climbed less than 0.1% to 291.76. The benchmark gauge is heading for its biggest weekly decline in a year amid growing speculation the Federal Reserve will scale back monetary stimulus measures as soon as September. 

“Investors are becoming increasingly cautious as it is very uncertain how a reduction in stimulus would impact asset prices as well as real economic development,” experts RobecoSAM AG said. “All eyes are on today’s labor data. What would be best for markets is probably a very slow growth from current levels.” 

Stocks in Europe fell yesterday as the European Central Bank refrained from announcing additional stimulus measures even as it held its benchmark interest rate at a record low.      

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