Global stocks decline on UK manufacturing
European stocks declined, following nine months of gains for the Stoxx Europe 600 Index, as measures of manufacturing in the U.K. and China dropped. U.S. index futures and Asian shares were little changed.
Belgacom SA sank to the lowest price since its initial public offering in 2004 after its forecast for 2013 missed projections. Rio Tinto Group slid 2.6 percent after a person close to the matter said it plans to sell its Canadian iron-ore operations. Thales SA (HO) jumped the most in 13 years after posting full-year profit that beat analysts' projections.
The Stoxx 600 dropped 0.4 percent to 288.88 at 9:47 a.m. in London, paring the gauge's advance this week to 0.1 percent, which would be its second consecutive gain. The equity benchmark has still risen 3.3 percent this year as U.S. lawmakers agreed on a budget avoiding automatic fiscal changes that had threatened to push the world's biggest economy into recession.
Futures on the Standard & Poor's 500 Index slipped 0.2 percent. U.S. stocks erased their advance in the final minutes of trading yesterday after the Senate voted to keep $85 billion of spending cuts in place. The MSCI Asia Pacific Index increased less than 0.1 percent today. President Barack Obama has summoned congressional leaders to the White House today to discuss the country's budget talks. No additional U.S. congressional action is planned before the start of the cuts today, which will be split between defense and nondefense spending.