European stocks fluctuated before closing little changed as investors parsed mixed earnings reports, with miners sliding as the increased possibility of a Federal Reserve interest rate rise in December weighed on commodity prices.
Deutsche Bank AG and Barclays Plc fell more than 6 percent as earnings disappointed. A gauge tracking resource-related stocks including BHP Billiton Ltd. and Rio Tinto Group slipped the most on the Stoxx Europe 600 Index as Liberum Capital downgraded the two companies to sell, and commodities declined as the Fed’s comments boosted the dollar. Danone, one of the world’s biggest producers of baby formula, climbed 1.5 percent after China said it would abandon its one-child policy.
The Stoxx 600 retreated less than 0.1 percent to 375.7 at the close of trading, after earlier falling as much as 0.6 percent and rising 0.4 percent. Europe’s benchmark measure has still climbed 8 percent in October, rebounding from a quarterly rout and heading for its best monthly rally since 2009 amid increased stimulus from China and hints of additional easing from the European Central Bank.
Source : Bloomberg