Hang Seng 22,394.08 -270.44 -1.19%

Shanghai Composite 2,138.78 -3.77 -0.18%   

S&P 500 1,839.78 +11.03 +0.60%

NASDAQ 4,267.55 +29.59 +0.70%

Dow 16,133.23 +92.67 +0.58%   

FTSE 6,812.99 +16.28 +0.24%

CAC 4,355.49 +14.39 +0.33%    

DAX 9,618.85 -41.20 -0.43%

European stocks closed little changed, trimming losses in the final minutes of trading, after data showed Chinese manufacturing shrank for a second month and Federal Reserve minutes signaled stimulus cuts will continue.

A Chinese manufacturing index fell to the lowest level in seven months, data showed today. The preliminary February reading of 48.3 for a purchasing managers’ index from HSBC Holdings Plc and Markit Economics came in lower than January’s final figure of 49.5 and the 49.5 median estimate in a Bloomberg News survey. A number below 50 indicates contraction.

Fed policy makers said they would soon have to modify their commitment to keep the benchmark interest rate near zero until unemployment falls below 6.5 percent, according to minutes of their January meeting released yesterday.

National benchmark indexes dropped in seven of the 18 western European markets. The U.K.’s FTSE 100 added 0.2 percent, Germany’s DAX lost 0.4 percent and France’s CAC 40 rose 0.3 percent.

BAE dropped 8.3 percent to 400.4 pence. Europe’s largest defense company said earnings per share will decline 5 percent to 10 percent in 2014 because of the pressure on the U.S. to contain its budget.

Randstad fell 11 percent to 44 euros, its worst retreat since March 2009. The world’s second-largest staffing company posted fourth-quarter sales that missed projections. Rabobank International downgraded the stock to hold from buy, saying profit trailed its estimate. Exane BNP Paribas said analysts may reduce their price estimates for Randstad after weak results.

TUI slid 5.4 percent to 13.02 euros, its biggest decline since August. Monteray Enterprises Ltd., controlled by trusts of Norwegian shipping magnate John Fredriksen’s family, sold 39.7 million shares in the company for 521 million euros. That leaves the Norwegian investor with 4.4 percent of TUI’s capital, the tour operator said in a statement.

A gauge of commodity producers slumped the most among the 19 industry groups on the Stoxx 600, losing 1.1 percent.

Technip rose 9 percent to 69.99 euros. Europe’s largest oil-services provider by market value said its operating-profit margin from subsea operations will be at least 12 percent in 2014 and increase to 15 percent to 17 percent next year.

U.S. stock futures reversed early losses after a gauge of manufacturing rose more than forecast, overshadowing data showing 

Chinese manufacturing shrank amid concern over growth prospects for emerging markets.

Global markets:

Nikkei 14,449.18 -317.35 -2.15 %

Hang Seng 22,394.08 -270.44 -1.19 %

Shanghai Composite 2,138.78 -3.77 -0.18 %

FTSE 6,777.33 -19.38 -0.29%

CAC 4,331.67 -9.43 -0.22%

DAX 9,556.75 -103.30 -1.07%

Crude oil $103.23 (-0.08%)

Gold $1315.60 (-0.36%).

European stocks dropped for the first time in five days after data showed Chinese manufacturing shrank for a second month and Federal Reserve minutes signaled stimulus cuts will continue. U.S. equity-index futures were little changed, while Asian shares declined.

The Stoxx Europe 600 Index slid 0.8 percent to 332.31 at 9:43 a.m. in London. The benchmark rallied 4.6 percent since Feb. 4 through yesterday as Fed Chair Janet Yellen pledged to continue her predecessor’s approach to stimulus policy.

A Chinese manufacturing index fell to the lowest level in seven months, data showed today. The preliminary February reading of 48.3 for a purchasing managers’ index from HSBC Holdings Plc and Markit Economics came in lower than January’s final figure of 49.5 and the 49.5 median estimate. A number below 50 indicates contraction.

Fed policy makers said they would soon have to modify their commitment to keep the benchmark interest rate near zero until unemployment falls below 6.5 percent, according to minutes of their January meeting released yesterday.

“Participants agreed that, with the unemployment rate approaching 6.5 percent, it would soon be appropriate for the Committee to change its forward guidance in order to provide information about its decisions regarding the federal funds rate after that threshold was crossed,” the records noted.

BAE dropped 9.3 percent to 396.4 pence. Europe’s largest defense company said earnings per share will decline 5 percent to 10 percent in 2014 because of the pressure on the U.S. to contain its budget.

Randstad fell 8.4 percent to 45.02 euros, its worst retreat since August 2011. The world’s second-largest staffing company posted fourth-quarter sales that missed projections. Rabobank International downgraded the stock to hold from buy, saying profit trailed its estimate. Exane BNP Paribas said analysts may reduce their price estimates for Randstad after weak results.

TUI slid 4.8 percent to 13.10 euros, its biggest decline since August. Monteray Enterprises Ltd., controlled by trusts of Norwegian shipping magnate John Fredriksen’s family, was selling a 15.7 percent stake in the owner of Europe’s largest travel company, Goldman Sachs Group Inc. said.

FTSE 100 6,777.38 -19.33 -0.28%

CAC 40 4,321.24 -19.86 -0.46%

DAX 9,543.44 -116.61 -1.21%

Asian stocks fell, with the regional benchmark index declining the most in two weeks, after a Chinese manufacturing gauge dropped more than estimated. The China PMI released today by HSBC Holdings Plc and Markit Economics showed a preliminary February reading of 48.3, compared with January’s final figure of 49.5 and the 49.5 median estimate in a Bloomberg News survey of 17 economists. A number below 50 indicates contraction.

Nikkei 225 14,449.18 -317.35 -2.15%

S&P/ASX 200 5,412.34 +4.10 +0.08%

Shanghai Composite 2,136.97 -5.59 -0.26%

Industrial & Commercial Bank of China Ltd., the nation’s largest lender, slid 2.7 percent as financial companies led losses.

Naver Corp. sank 8.1 percent in Seoul amid concern an expansion at WhatsApp Inc. following its acquisition by Facebook Inc. would curb sales at the South Korean Internet site.

China Petroleum & Chemical Corp. surged 9.6 percent in Hong Kong after Asia’s biggest oil refiner said it’s seeking private investors.