European stocks were little changed, with equities posting their biggest monthly gain since July, as Ukraine accused Russia of stoking tension on its territory and data showed U.S. fourth-quarter economic growth slowed more than estimated.
Australia’s bid to sell state-owned infrastructure to help fund new projects will form a centerpiece of its Group of 20 agenda as the nation bets its plan to spur jobs is as relevant in Moscow, Mumbai and Michigan as it is in Melbourne.
Asos Plc jumped after MSCI Inc. said it will add the stock to its global gauge for developed shares, while Nomura Real Estate Office Fund Inc. fell after it was removed. China Mengniu Dairy Co. surged after Hang Seng Indexes Co. said it would include it in the benchmark Hong Kong measure.
Royal Mail Group Ltd., the U.K. postal service that sold shares in an initial public offering last year, said like-for-like sales gained 2 percent in the first nine months of the year boosted by parcel deliveries.
On Oct. 11, the U.K. government sold a majority stake in Royal Mail Plc, the British postal service, in an initial public offering. Interest from both retail and institutional investors was strong. When the trading frenzy died down, two names emerged with large positions: Lansdowne Partners Ltd. and The Children’s Investment Fund Management UK LLP.
Royal Mail Group Ltd. has buyers for all shares to be sold in an initial public offering valuing the 360-year-old U.K. postal service at as much as 3.3 billion pounds ($5.3 billion), two people briefed on the matter said.
Royal Mail Group Ltd., the U.K.’s 360-year-old postal service, intends to hold an initial public offering of a majority stake “in the coming weeks” to help the company gain a competitive edge against European rivals.
Royal Mail Group Ltd.’s initial public offering is significantly oversubscribed and many institutional investors that applied to take part will get no allotment, two people familiar with the sale process said.