European stocks were little changed,
following last week’s selloff for the Stoxx Europe 600 Index,
after a report showed that Chinese industrial companies’ profits
dropped last month. U.S. index futures were also little changed,
while Asian shares declined.
Q-Cells SE (QCE) surged 33 percent after South Korea’s Hanwha
Group signed a deal to acquire the insolvent German producer of
solar cells. Nokia Oyj (NOK1V) jumped 7 percent after a jury found that
Samsung Electronics Co. had violated Apple Inc. patents. The Stoxx 600 retreated less than 0.1 percent to 267.96 at 8:16 a.m. in London. Standard & Poor’s 500 Index futures expiring in September rose 0.1 percent, while the MSCI Asia Pacific Index (MXAP) fell 0.4 percent. Volumes in Europe may be subdued as the U.K. market is closed for a bank holiday.
China’s Premier Wen Jiabao has urged extra measures to support exports and help meet economic targets as a release today showed that industrial companies’ profits fell, adding to evidence that the nation’s slowdown is deepening.
Read more: http://www.businessweek.com/news/2012-08-27/european-stock-futures-drop-thyssenkrupp-may-move#r=bloomberg
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