European Stocks Fail to Maintain Gains After U.S. Economic Data
- Energy producers remain higher, jumping 4.4% as a group
- U.K.’s FTSE 100 climbs, closing at its highest since Aug. 15
European Stocks Close Little Changed
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The rally in energy producers wasn’t enough for European equities to maintain their gains after U.S. data stocked concern about the economy as the Federal Reserve contemplates raising interest rates.
The Stoxx Europe 600 Index gained less than 0.1 percent, almost completely erasing its advance in the last hour of trading. A report showed U.S. pending home sales slumped in August, just as Fed Bank of Atlanta President Dennis Lockhart said the central bank is nearing its goals of maximum employment and steady inflation near 2 percent.