The European Union will probably stick to a policy of seeking temporary solutions to its debt crisis in the coming weeks rather than move toward a fiscal union or breakup of the euro, a top Fitch Ratings official said.
European stocks were little changed, with the Stoxx Europe 600 Index advancing for a seventh week, as a better-than-expected report on U.S. business activity offset consumer-confidence data that missed forecasts.
U.K. stocks retreated for a second day, with the benchmark FTSE 100 Index falling the most in more than a month, as investors weighed corporate earnings from Marks & Spencer Group Plc to Vodafone Group Plc.
U.K. stocks rose for the first time in four days as data showed U.S. employers hired more workers than estimated and the unemployment rate in the world’s largest economy held at an almost six-year low last month.
U.K. stocks fell the most in two months as George Osborne promised that the Bank of England will get new powers to rein in mortgage lending, while BOE Governor Mark Carney said interest rates may rise sooner than expected.