World stocks change before US data
Most European stocks advanced before U.S. data that may show durable-goods orders increased and new-house sales held close to a fouryear high last month. U.S. index futures rose, while Asian shares were little changed.
Celesio AG gained 2.1 percent after the drug wholesaler said 2012 earnings exceeded its own target. Bellway Plc rose 2.1 percent after saying first-half profit increased 51 percent.
The Stoxx 600 Europe Index advanced 0.1 percent to 293.59 at 9:15 a.m. in London as three shares rose for every two that fell. The benchmark gauge lost 0.3 percent yesterday, reversing a rally of 1 per- cent, amid concern the conditions for the Cyprus bailout may set a precedent for other indebted nations in the euro area. Futures on the Standard & Poor's 500 Index gained 0.2 percent today, while the MSCI Asia Pacific Index added less than 0.1 percent.
The Cyprus Stock Exchange remains closed for trading today and tomorrow due to the continuing bank holidays, according to a statement on CSE's website.
U.S. durable-goods orders probably rose in February by the most in five months, economists said before the Commerce Department releases the figures at 8:30 a.m. in Washington. The 3.9 percent increase in bookings for goods meant to last at least three years would follow a revised 4.9 percent drop in January, according to the median forecast in a survey.
A separate report at 10 a.m. in Washington may show new houses sold at a 420,000 annual pace last month after a 437,000 rate in January, the best back-to-back performance in four years, economists surveyed by Bloomberg predicted.
In Italy, Pier Luigi Bersani will meet Silvio Berlusconi's deputies today in his bid to assume the Italian premiership.
Bersani has two days to overcome a shortfall of support in parliament and avoid an immediate return to the polls after inconclusive elections last month. The appointment is set to start at 4:15 p.m. in Rome.
Celesio advanced 2.1 percent to 14.24 euros. Earnings before interest, taxes, depreciation and amortization, adjusted for one-time effects, increased 4.5 percent to 579.6 million euros in 2012. For this year, the company projected an adjusted Ebitda of 580 million euros to 610 million euros.
Bellway Plc rose 2.1 percent to 1,217 pence. The U.K. homebuilder said net income increased 51 percent in the six months ended Jan. 31 to 46 million pounds ($70 million) from a year earlier.
Telefonica SA dropped 3.9 percent to 10.80 euros as trading in the shares opened late after being suspended for more than an hour. The company raised 975 million euros in a sale of treasury stock at 10.80 euros per share.