Europe Stocks Little Changed After U.S. Data; Greece’s ASE Drops

PT BEST PROFIT FUTURES – European stocks were little changed, erasing earlier losses, as U.S. reports indicated the world’s biggest economy is strengthening. Greek shares tumbled a third day, sending the ASE Index down 20 percent this week.

The Stoxx Europe 600 Index added 0.1 percent to 339.61 at 4:31 p.m. in London. It earlier fell as much as 0.8 percent. The Standard & Poor’s 500 Index gained 1.3 percent after data showed U.S. retail sales rose at a faster pace than estimated, while initial jobless claims unexpectedly fell last week.

Greece’s ASE Index slid 7.4 percent today, posting the biggest three-day slump since 1987, amid concern a possible snap parliamentary election would open the door to anti-austerity leadership.

European shares are on course for their biggest weekly drop in two months. The Stoxx 600 reached an almost seven-year high on Dec. 5, with Germany’s DAX Index rising to a record. Shares have rallied from this year’s low in October amid speculation the European Central Bank will consider quantitative easing at its January meeting. PT BESTPROFIT FUTURES

Source : Bloomberg

MARKET