European Stocks Little Changed as Miners Climb, Pearson Tumbles

Stoxx 600 Extends Losses, Media Sector Index Falls 2.2%

European shares closed little changed as miners advanced, offsetting a decline in media shares led by Pearson Plc.

The Stoxx Europe 600 Index rose 0.2 percent at the close. Commodity producers advanced 1.4 percent, the most among industry groups, extending their 2017 gains. Media companies were the worst performers as Pearson plunged 29 percent, the most on record. The world’s largest education company cut its profit forecast for this year, withdrew its goal for the next, and announced plans to sell its stake in publisher Penguin Random House.

  • The FTSE 100 Index added 0.4 percent on Wednesday, its first advance in three days.
  • Stoxx 600 miners rose for the seventh time in eight days, with ArcelorMittal climbing to a six-week high after Commerzbank AG recommended buying the stock. 
  • Investors are preparing for the European Central Bank’s policy meeting on Thursday, when they’ll look for clues as to when the institution may begin curtailing its stimulus measures.
  • The ECB will wait until late this year before considering reining in its bond-buying plan, and won’t halt the program until well into 2018 at the earliest, economists said in a survey by Bloomberg.
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