European stocks were little changed. The Stoxx Europe 600 Index added less than 0.1% trading near a six-year high, as investors awaited the outcome of the European Central Bank’s policy meeting.
What is absolutely priced in for today is a rate cut and some kind of conventional quantitative easing, experts said.
The Bank of England will probably maintain its key rate at 0.5 percent, where it has been since March 2009. The BOE will probably leave its bond-purchase program unchanged at 375 billion pounds.
Smith & Nephew Plc gained 4.8% as Medtronic Inc. was said to consider a takeover of the U.K. company. Volvo AB (VOLVB) slipped 2 percent as UBS AG recommended selling the shares.
Bellway Plc added 1.5% The British homebuilder said demand for new homes remains robust and all reservations are in place to achieve the annual volume goal.
Deutsche Telekom AG gained 1.1%. People familiar with the matter said Sprint Corp. is nearing an agreement on the price, capital structure and termination fee of an acquisition for T-Mobile US Inc. (TMUS) The German company owns a 67% stake in T-Mobile.
The equity value of the U.S. wireless carrier would be $31 billion, and Sprint would offer about 50 percent stock and 50 percent cash for T-Mobile, the people said. Deutsche Telekom would be left with about 15 percent of the combined company, the people said.
Asos tumbled 31% to 3,113 pence, its lowest price in 13 months. The online fashion retailer forecast that earnings before interest and taxes will be about 4.5% of sales for the year through August, compared with a previous margin estimate of 6.5%.
Investment AB Kinnevik fell 8.1%. The Swedish company owns a stake in Zalando AG, a German online shoe and clothing retailer preparing a potential initial public offering as soon as this year.
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