European stocks were little changed, after rising four times in the past five sessions, as investors weighed earnings reports and gains in energy producers.

Deutsche Bank AG slid 2.3 percent after posting its first annual loss since 2008. Hennes & Mauritz AB dropped 3.5 percent after its fourth-quarter earnings missed analysts’ estimates. Seadrill Ltd. and Subsea 7 SA climbed at least 4.7 percent, leading an advance in oil-and-gas companies.

The Stoxx Europe 600 Index dropped less than 0.1 percent at 8:17 a.m. in London. U.S. equities fell yesterday amid bad earnings and after the Federal Reserve indicated no discernible shift in its stance. Officials reiterated they will raise rates at a gradual pace, while watching to see the effect of the global economy and markets on the U.S. outlook.

Worries about global growth amid a rout in oil prices and a slowdown in China have weighed on stocks in 2016, sending the Stoxx 600 down 7 percent. That puts it on course for the worst January since 2008. Still, speculation of more stimulus from the European Central Bank and better-than-forecast earnings from some companies have helped staunch losses after the benchmark sank to its lowest level since October 2014 last week.

Source: Bloomberg