U.K. stocks were little changed, following the FTSE 100 Index’s first weekly decline in three weeks, after reports showed activity in the British and U.S. services industries expanded at a slower pace last month.
The underperformance of European stocks relative to their U.S. counterparts may be ending, even as investors await the details of a plan for the European Central Bank to join forces with governments to ease the euro area’s debt crisis.
European equities will climb 12 percent through the end of next year, beating 2010’s gains, as rising earnings and record-low interest rates help companies overcome the sovereign-debt crisis, a Bloomberg survey of 13 strategists shows.
European stocks rose to the highest in eight weeks as investors bet central banks will add to measures unveiled by the region’s governments to contain the sovereign-debt crisis and data from China and Japan fueled optimism Asia will drive global growth.
European stocks rose for a fifth week as investors bet central banks would add to measures to stimulate economic growth, with the Stoxx Europe 600 Index paring some gains on concern that risks to a recovery remain.