European stocks little changed

On Friday European stocks were little changed as investors awaited a speech by Federal Reserve Chair Janet Yellen for indications on the path of future U.S. interest-rate increases.

The Stoxx Europe 600 Index slipped 0.1 percent at 10:14 a.m. in London, paring its weekly advance to 0.5 percent. The volume of shares changing hands was about 38 percent below the 30day average ahead of a U.K. holiday on Monday. The gauge has been trading in a tight range for most of the month, struggling to find a direction after a rebound of as much as 12 percent following the aftermath of Britain’s secession vote.

Now, all eyes are on the Fed, with traders bringing forward their expectations for a rate increase. They see a one-in-three chance of the central bank increasing borrowing costs next month, double their bets from two weeks ago, after officials made the case for policy tightening in recent days. Yellen is scheduled to speak at the annual monetary policy symposium in Jackson Hole, Wyoming, at 10 a.m. local time.

Among stocks moving on corporate news, French media company Vivendi SA fell 5 percent after reporting quarterly earnings that missed analyst estimates. Hennes & Mauritz AB slid 2.2 percent after HSBC Holdings Plc lowered its rating on the retail to a hold, citing a lack of catalysts.

Asian stocks fell to a two-week low, led by shares in Japan, as investors showed a reluctance to take on risk before Federal Reserve Chair Janet Yellen’s speech that may provide clues on when the world’s largest economy will raise interest rates. The MSCI Asia Pacific Index slid 0.5 percent to 138.25 as of 4:10 p.m. in Hong Kong, set for its second weekly drop, its longest losing streak since June. Japan’s Topix index sank 1.3 percent as the yen traded at 100.45 to the dollar.