European stocks were little changed, as investors awaited for accord between U.S. lawmakers to limit automatic spending cuts and avoid a government shutdown. The Stoxx Europe 600 Index rose 0.2%. The gauge has rallied 13% this year.
Investors are considering when the Federal Reserve, which meets next week, may reduce the pace of its monthly bond buying. Range of expectations of starting tapering is from December to March.
Natixis climbed 4.4%. BNP Paribas raised its rating on the stock to outperform from neutral, citing a potential capital return and high payouts for shareholders.
Stagecoach Group Plc (SGC) advanced 3.3%. The bus and train operator said six-month adjusted earnings increased to 14.6 pence per share, exceeding the average analyst estimate for profit of 13.7 pence per share.
RBS dropped 1.8%. The bank, which has been under pressure said in a statement that Bostock informed the board of his plans to step down, with a “formal resignation” expected “soon.” He will remain in his role “to oversee an orderly handover of his responsibilities” and a successor will be announced “in due course.”
Imagination Technologies Group Plc (IMG) tumbled 15% to its lowest price since March 2010, after posting half-year sales that missed analysts’ estimates.
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