European stocks were little changed, with the Stoxx Europe 600 Index heading for its biggest weekly rally in two months, as investors awaited data on the American labor market.
Sky Deutschland AG rallied to its highest price since 2008
after Goldman Sachs Group Inc. added the German pay-TV provider to its
“conviction buy” list.
Seadrill Ltd. rose 1.7% as Bank of America Corp. advised investors to buy the shares.
Heineken fell 0.4% to 50.54 euros after JPMorgan downgraded
the stock to underweight, a rating similar to sell, from neutral. The
brewer may post a 4% drop in beer volumes because of poor weather in
Europe and high inflation in emerging markets.
Afren Plc climbed 1.2% to 136.6 pence, its highest price in
a month, after the U.K. oil explorer said its chairman and executive
directors will buy the company’s shares in the secondary market using
proceeds from the sale of their holdings in First Hydrocarbon Nigeria.
The Stoxx 600 added less than 0.1% to 292.33. The measure
yesterday jumped 2.3% as the European Central Bank and the Bank of
England pledged to keep interest rates low, and is heading for a 2.6%
increase this week.
According to experts’ opinion, “What the ECB and the BOE did
yesterday is in a way a sign of things to come from the Federal Reserve.
We think we’ll get the same kind of message from the Fed on rates, or
for a zero-rate structure for many years to come.”
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