European stocks fell, snapping two days of gains, before a Federal Reserve meeting next week that may give clues on when it will reduce its stimulus.

The Federal Open Market Committee will probably start slowing its $85 billion in monthly bond purchases at its Dec. 17-18 meeting, according to 34 percent of economists surveyed Dec. 6 by Bloomberg, an increase from 17 percent in a Nov. 8 survey. The central bank has said it may reduce its stimulus if the economy improves as forecast.

Industrial production in the U.K. increased 0.4 percent in October from the previous month, the Office for National Statistics said. It climbed 0.9 percent in September. The October gain matched economists’ estimates.

National benchmark indexes dropped in 12 of the 18 western European markets. The U.K.’s FTSE 100 lost 0.6 percent, while France’s CAC 40 retreated 1 percent and Germany’s DAX dropped 0.9 percent.

Gauges of auto companies and technology shares posted the biggest declines among 19 industry groups in the Stoxx 600. PSA Peugeot Citroen lost 5.1 percent to 11.61 euros and Nokia Oyj dropped 2.4 percent to 5.77 euros.

Vopak slipped 2.1 percent to 41.74 euros after saying it probably won’t reach its goal of 1 billion euros ($1.37 billion) in earnings before interest, taxes, depreciation and amortization in 2016, citing a lack of clarity on the timing of new, profitable projects. The world’s biggest chemical- and oil-storage company forecasts 2013 Ebitda excluding one-time items of about 750 million euros.

Victrex surged 4.2 percent to 1,631 pence. The U.K. maker of heat-resistant plastics for auto, energy and health-care companies proposed a final dividend of 32.65 pence, surpassing the Bloomberg Dividend forecast of 31 pence. Victrex said in a preliminary report full-year revenue rose to 221.9 million pounds ($364.5 million), compared with the average analyst estimate of 221.8 million pounds.

CGG climbed 2.3 percent to 14.67 euros. Raymond James Financial Inc. raised its recommendation on the world’s biggest seismic surveyor of oilfields to outperform, similar to buy, from market perform. The brokerage cited marine contracts that CGG won and the potential for client works in Brazil.

U.S. stock-index futures fell, as investors watched budget negotiations in Washington and weighed equity valuations.

Global markets:

Nikkei 15,611.31 -38.90 -0.25%

Hang Seng 23,744.19 -66.98 -0.28%

Shanghai Composite 2,237.49 -0.71 -0.03%

FTSE 6,523.14 -36.34 -0.55%

CAC 4,098.22 -35.88 -0.87%

DAX 9,110.87 -84.30 -0.92%

Crude oil $98.45 (+1.14%).

Gold $1258.90 (+2.00%).

European stocks were little changed, following two days of gains, after a report in China showed industrial production expanded less than forecast. U.S. index futures and Asian shares were little changed.

The Stoxx Europe 600 Index gained 0.2 percent to 317.72 at 9:57 a.m. in London. The equity gauge has rallied 13 percent this year through yesterday as central banks around the world have pledged to leave interest rates near record lows for a prolonged period of time.

Chinese factory production rose 10 percent in November from a year earlier, following a 10.3 percent increase in October, the National Bureau of Statistics said. That missed analysts’ median projection of 10.1 percent. Retail sales advanced 13.7 percent.

In the U.K., industrial production rose for a second month in October. Output increased 0.4 percent from the previous month, matching economists’ estimates, the Office for National Statistics said. It climbed 0.9 percent in September.

Another release showed France’s industrial production fell 0.3 percent in October, following a revised 0.3 percent drop a month earlier. The median estimate of economists surveyed by Bloomberg called for a 0.1 percent gain.

Vopak slipped 4.3 percent to 40.80 euros after saying it probably won’t reach its goal of 1 billion euros ($1.37 billion) in earnings before interest, taxes, depreciation and amortization in 2016, citing a lack of clarity on the timing of new, profitable projects. The company, which ranks itself the world’s largest independent tank-storage provider, forecasts 2013 Ebitda excluding one-time items of about 750 million euros.

Ashtead gained 2 percent to 728 pence. The company raised its interim dividend by 50 percent to 2.25 pence a share and reported a 23 percent increase in first-half revenue to 849.7 million pounds.

CGG SA climbed 5.8 percent to 15.17 euros after Raymond James Financial Inc. raised its recommendation on the shares to outperform, similar to buy, from market perform.

FTSE 100 6,568.78 +9.30 +0.14%

CAC 40 4,139.21 +5.11 +0.12%

DAX 9,212.04 +16.87 +0.18%

Asian stocks swung between gains and losses after the biggest rally in three weeks. Telecommunication and retail shares led declines while energy companies rose.

Nikkei 225 15,611.31 -38.90 -0.25%

Hang Seng 23,744.19 -66.98 -0.28%

S&P/ASX 200 5,143.55 -0.87 -0.02%

Shanghai Composite 2,237.49 -0.71 -0.03%

Shimizu Corp. gained 1.9 percent in Tokyo after Credit Suisse Group AG analysts advised buying shares of the building contractor.

QBE Insurance Group Ltd. led declines on the regional benchmark index, dropping a second day after Australia’s largest insurer by market value forecast an unexpected loss of about $250 million.

Doosan Infracore Co. sank 3.4 percent in Seoul as the construction-equipment manufacturer plans to start selling 40 million new shares.

Nikkei 225 15,650.21 +350.35 +2.29%

Hang Seng 23,805.49 +62.39 +0.26%

S&P/ASX 200 5,144.42 -41.60 -0.80%

Shanghai Composite 2,238.2 +1.09 +0.05%

FTSE 100 6,559.48 +7.49 +0.11%

CAC 40 4,134.1 +4.73 +0.11%

DAX 9,195.17 +22.76 +0.25%

Dow +198.75 16,020.26 +1.26%

Nasdaq +29.35 4,062.52 +0.73%

S&P +19.97 1,805.00 +1.12%