• European stock indices rose

Market news

14 June 2013

European stock indices rose

European stocks were little changed, with the Stoxx Europe 600 Index heading for its fourth weekly decline, as investors watched U.S. economic data and the Federal Reserve's stance on stimulus policy. U.S. index futures fell, while Asian shares rallied.

The Stoxx 600 climbed less than 0.1 percent to 290.65 at 11:07 a.m. in London, before a report that may show U.S. industrial production increased in May. The equity benchmark has dropped 1.6 percent this week, for the longest stretch of weekly losses in 14 months. It has retreated 6.4 percent since May 22, when Federal Reserve Chairman Ben S. Bernanke said the central bank may pare stimulus if the U.S. economy improves sustainably.

U.S. industrial production probably rose 0.2 percent in May, following a 0.5 decrease in the previous month, according to the median estimate of economists.

The Thomson Reuters/University of Michigan index of consumer sentiment this month held at 84.5, its highest level since July 2007, economists predicted before a preliminary report.

Hochtief gained 5.6 percent to 51.61 euros, the biggest increase since May 7. The Essen, Germany-based company controlled by Spain's Actividades de Construccion & Servicios SA, plans to buy as many as 4.3 million shares, representing about 5.6 percent of its capital.

Great Portland Estates rose 4.4 percent to 550.5 pence, its biggest increase since January 2012. UBS raised its rating on the stock to buy from neutral, citing recent declines. Today's gain reversed a weekly drop, which would have been the fourth consecutive week of losses.

Michelin and Pirelli & C. SpA, advanced 3.2 percent 68.66 euros and 2.6 percent to 9.21 euros, respectively. Passenger tire demand in Brazil surged 20 percent in May from a year earlier for original equipment and 15 percent in the replacement market, Michelin said on its website

FTSE 100 6,311.02 +6.39 +0.10%

CAC 40 3,805.17 +7.19 +0.19%

DAX 8,129.02 +33.63 +0.42%

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