European stocks were little changed, paring earlier losses, as banks rallied while telecommunication companies fell.
The Stoxx Europe 600 Index slipped 0.2% to 317.58 at the close of trading after earlier dropping as much as 0.8%.
National benchmark indexes gained in 11 of the 18 western-European markets today:
A U.S. report showed factory orders fell 1.5% in December, less than economists had forecast. In the U.K., construction expanded at the fastest pace since August 2007 last month, Markit Economics figures showed.
UBS (UBSN) AG jumped 5.4% after Switzerland’s biggest bank posted earnings that exceeded analysts’ projections.
Royal KPN NV lost 4.8% after the biggest Dutch telecommunications provider said it would cut jobs as a mobile-phone price war hurt earnings.
Vestas Wind Systems A/S dropped 4.8% after saying it seeks to raise capital.
Banco Comercial Portugues SA advanced 12% cents after posting a smaller annual loss than analysts had predicted.
Neste Oil Oyj jumped 8.8% after reporting fourth-quarter profit of 193 million euros, beating the average analyst projection of 69 million euros.
ARM Holdings Plc (ARM) slid 5.9% after the semiconductor company whose designs power Apple Inc.’s iPhones and iPads reported royalty revenue rose 7% in the fourth quarter to $146.4 million, less than the 13% growth in the third quarter and a 19% increase a year earlier.
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