European Stock Futures Little Changed; Pirelli May Move

By Sofia Horta e Costa 

European stock futures were little changed before a report that may show U.K. manufacturing output stalled in January. U.S. futures were also little changed, while Asian shares dropped.

Pirelli & C. SpA may be active after forecasting 2013 earnings that fell short of analysts’ estimates. Sanofi might move after a French labor union said the drugmaker lost an appeal court ruling on job cuts in the country. Futures on the Euro Stoxx 50 Index expiring this month slipped 0.2 percent to 2,715 at 7:10 a.m. in London. Contracts on the U.K.’s FTSE 100 Index were little changed. Futures on the Standard & Poor’s 500 Index fell 0.1 percent, while the MSCI Asia Pacific Index lost 0.5 percent.

The Stoxx 600 (SXXP) rallied 2.3 percent last week, the biggest advance in two months, as employers in the U.S. increased payrolls more than forecast and optimism mounted that central banks will continue to stimulate their economies. The index closed at the highest level since June 2008.

U.K. manufacturing production was unchanged in January after increasing 1.6 percent in December, economists estimated before a report today. Total industrial production in the European Union’s third-largest economy rose 0.1 percent in January after gaining 1.1 percent the previous month, economists predicted. The Office for National Statistics will release the data at 9:30 a.m. in London.

To contact the reporter on this story: Sofia Horta e Costa in London atshortaecosta@bloomberg.net

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