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Europe Stock Futures Are Little Changed Before U.S. Data

(Corrects scope of Stoxx 600’s gain in fourth paragraph of story published July 2.)

European stock-index futures were little changed, after the Stoxx Europe 600 Index posted its biggest gain in almost two months, as investors awaited reports on U.S. jobs and factory orders. U.S. index futures were little changed, while Asian shares rallied.

ING Groep NV may move after raising 1.54 billion euros ($2.1 billion) through the initial public offering of its insurance unit. Bayerische Motoren Werke AG may be active after a person familiar with the matter said it will invest about $1 billion in a factory in Mexico. Royal Vopak NV may move after saying it will divest about 15 terminals in a plan to boost free cash flow.

Futures on the Euro Stoxx 50 Index expiring in September slipped 0.1 percent to 3,249 at 7:11 a.m. in London. Contracts on the U.K.’s FTSE 100 Index and Standard & Poor’s 500 Index futures were little changed. The MSCI Asia Pacific Index added 0.7 percent to extend a six-year high.

The Stoxx 600 rose 0.9 percent, its biggest gain since May 8, and the Standard & Poor’s 500 Index climbed 0.7 percent to a record yesterday as data showed manufacturing expanded in China and the euro area. The European equity gauge climbed 2.3 percent in the second quarter, capping the longest stretch of quarterly advances since March 2010.

In the U.S., data from the ADP Research Institute at 8:15 a.m. New York time may show companies hired 205,000 employees in June, compared with an increase of 179,000 the previous month, according to the median forecast of economists surveyed by Bloomberg. The private report precedes the Labor Department’s payrolls data tomorrow.

Factory Data

A separate release at 10 a.m. may show factory orders in the world’s biggest economy fell 0.3 percent in May, following a 0.7 percent gain in April, according to a Bloomberg survey.

ING may be active after selling 77 million shares of NN Group NV for 20 euros each. Including a conversion of 450 million euros in mandatory exchangeable notes under an agreement with three Asian investors, gross proceeds are about 2 billion euros, according to a statement.

BMW may move after a person familiar with the matter said a new factory planned for San Luis Potosi, Mexico, will produce about 150,000 cars a year when output starts by 2019. BMW will release details of a decision on July 3, Mathias Schmidt, a spokesman for the Munich-based company, said by phone, declining to comment on the plans.

Vopak may be active after announcing initiatives to reduce capital expenditure and support its plan for achieving earnings before interest, taxes, depreciation, amortization and exceptional items exceeding 768 million euros by 2016. The tank-storage provider said it will divest 15 smaller terminals that contribute about 4 percent to its Ebitda.

To contact the reporter on this story: Namitha Jagadeesh in London at njagadeesh@bloomberg.net

To contact the editors responsible for this story: Cecile Vannucci at cvannucci1@bloomberg.net Alan Soughley

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