European stocks fluctuated between gains and losses as investors awaited developments in talks on raising the U.S. debt limit and restoring government operations. The Stoxx Europe 600 Index slipped less than 0.1%. The gauge has advanced 0.3% in October even as U.S. lawmakers failed to agree on a budget.
U.S. Senate Majority Leader Harry Reid said yesterday that he had a “productive conversation” with Minority Leader Mitch McConnell without reaching a conclusion on a plan to send to the chamber for a vote. Senate Republicans have blocked a Democratic plan to push the next debt-limit fight into 2015 and Senate Democrats rejected a proposal from Republican Senator Susan Collins of Maine.
Dassault declined 6.1%, the largest slide since August 2011. Revenue in the third quarter, excluding currency effects, rose 4 percent, falling short of targeted growth of 8 percent to 9 percent, according to a company statement.
Konecranes lost 4.9% in Helsinki as the company forecast that 2013 sales will be “slightly lower” than last year.
Peugeot plunged 10%, the biggest decline since April 2009. The carmaker is preparing to sell 3 billion euros ($4.1 billion) of new stock, with China’s Dongfeng Motor Corp. and the French government buying matching stakes in Europe’s second-biggest carmaker.
Ericsson AB, the largest maker of wireless-network equipment, retreated 2.3%. Barclays Plc downgraded the shares to underweight, similar to a sell recommendation, from equal weight, saying third-quarter earnings may disappoint.
EDF advanced 2.3% to 25.07 euros as Energy Secretary Ed Davey said the U.K. is “extremely close” to announcing a deal with Europe’s biggest power generator to build Britain’s first nuclear power station since 1995. The agreement may be announced as soon as this week.
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