European Stocks Little Changed; Vestas Drops as UBS Jumps

European stocks were little changed, paring earlier losses, as banks rallied while telecommunication companies fell.

UBS AG jumped 5.4 percent after Switzerland’s biggest bank posted earnings that exceeded analysts’ projections. Royal KPN NV lost 4.8 percent after the biggest Dutch telecommunications provider said it would cut jobs as a mobile-phone price war hurt earnings. Vestas Wind Systems A/S dropped 4.8 percent after saying it seeks to raise capital.