European stocks were little changed, with gains for staples stocks outweighed by declines for automakers. Investors mulled mixed earnings as well as comments over the weekend from Federal Reserve Chair Jerome Powell, who reiterated the market may need to wait beyond March for rate cuts.
The Stoxx 600 Index was largely flat by 10:10 a.m. in London. The food, beverages and tobacco sector rose, while automakersand energy stocks underperformed. UniCredit SpA soared after reporting results that beat estimates, allowing the bank to boost shareholder returns, while Nordea Bank Abp fell after missing estimates. Delivery Hero SE extended declines for a second day on concerns about an Asian deal, even after pre-releasing results in an attempt to reassure the market.
JPMorgan European Discovery Trust plc (LON:JEDT) is an investment trust company. The Investment Trust JEDT objective is to achieve capital growth from a portfolio of quoted smaller companies in Europe, excluding the United Kingdom.