The yen strengthened for the first time in three days against the dollar and European stocks were little changed before a Federal Reserve meeting that may clarify the outlook for U.S. monetary stimulus. Oil approached $100 a barrel for the first time since September.
Deutsche Annington Immobilien AG, Germany’s largest residential landlord, plans to raise about 1.1 billion euros ($1.5 billion) in the second initial public offering in the country’s real estate industry this year.
Germany’s government bonds rose for the first time in three days as investors weighed what Federal Reserve Chairman Ben S. Bernanke will say about the central bank’s asset-purchase program at a press conference today.
Zurich’s auction houses are attracting a growing number of international buyers for Swiss art, reflected in higher prices for artists including Ferdinand Hodler, Albert Anker and the Giacometti family.
European stocks fluctuated between gains and losses as investors awaited the conclusion of the Federal Reserve’s policy meeting for indications on stimulus measures. U.S. index futures were little changed while Asian shares climbed.
H. Lundbeck A/S, the Nordic region’s second-largest drugmaker, was fined 93.8 million euros ($125.6 million) by the European Union over agreements with other companies that held back sales of cheaper generic drugs.
Banks should be allowed to repackage assets such as loans and sell them on to investors to maintain the flow of credit to the economy, said Deutsche Bank AG co- Chief Executive Officer Juergen Fitschen.