Economics
European Stocks Are Little Changed; Banco Espirito Santo Rallies
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European stocks closed little changed after data on U.S. house prices and consumer confidence gave conflicting signals about the strength of the world’s largest economy.
Banco Comercial Portugues SA and Banco Espirito Santo SA rallied more than 7 percent after a report that Portugal may recapitalize its banks without taking an equity stake. Chemical makers also advanced. Italian lenders UniCredit SpA and Mediobanca SpA retreated at least 4 percent.