European Stocks Little Changed as EasyJet Drops, Vodafone Rises

European stocks ended the session little changed near a 21-month high as investors assessed a mix of earnings reports from companies including EasyJet Plc and Vodafone Group Plc.

The Stoxx Europe 600 Index slipped less than 0.1 percent to close at 395.91. The benchmark rose to a 21-month intraday high on Monday, following a rally spurred by optimism over the French presidential election. That made the region’s shares the most expensive in a year relative to global peers.

  • EasyJet slid 7.3 percent after reporting a record loss in the winter travel season, worse than analysts had predicted. Revenue in the fiscal first half through March also missed estimates.
  • Vodafone Group Plc gained 4 percent as it pledged to increase free cash flow by 23 percent this year, easing concern about its dividend.
  • Auto-related companies in the Stoxx 600 declined after a report showed European car sales fell in April, with U.K. registrations hurt by tax changes.
  • Electricite de France SA shares jumped 6 percent after French President Emmanuel Macron appointed a former lobbyist for atomic-energy company Areva SA as prime minister, raising expectations of a pro-nuclear energy policy.
  • The U.K.’s FTSE 100 Index added 0.9 percent, closing above the level of 7,500 for the first time ever

— With assistance by Aleksandra Gjorgievska, and Elena Popina

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