EUROPEAN stocks stabilizing

European stocks were little changed, following the Stoxx Europe 600 Index’s largest two-day rally in 11 months, as investors awaited a report on U.S. personal spending.

Subsea 7 SA (SUBC) tumbled the most in 4 1/2 years after the oil-field services provider said its earnings will fail to grow this year.

Solvay SA led a selloff in chemical makers after JPMorgan Chase & Co. downgraded the company.

Bankia SA gained 2.2% as the lender sold its 12.1% stake in International Consolidated Airlines Group SA.

The Stoxx 600 was unchanged at 284.53. The gauge has tumbled 5.5% in June, its first monthly retreat in a year.

Experts said we have seen some stabilization over the last few days, but it’s not clear whether the correction is over. Clearly what Ben Bernanke did last week is indicate to markets that things will probably be a bit more volatile.

The Federal Reserve chairman indicated on June 19 that the central bank may start paring its bond-buying program if the economy strengthens. Stocks rebounded yesterday after a report showing slower-than-estimated U.S. economic growth fueled speculation that the central bank will maintain stimulus.

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