MILAN (Reuters) – European shares were little changed in early deals on Friday as investors digested a flurry of earnings updates, with French auto parts maker Valeo
Valeo slumped 9 percent to a six-month low as its second-half profit fell on adverse exchange rates and raw material prices, while RBS declined 4 percent after posting its first full-year profit since 2007. Traders said the underlying result missed expectations.
Oil services firm Subsea 7
Telecoms were lifted by a 3.1 percent rise in BT Group
The pan-European STOXX benchmark index <.STOXX> was flat in percentage terms by 0817 GMT, while the UK’s FTSE <.FTSE> dipped 0.2 percent and Germany’s DAX <.GDAXI> was flat.
The STOXX is set to end the week flat as markets stabilize and volatility calms following a turbulent start of the month that sent the index to a near-six-month low. The STOXX is now 3.5 percent above that low.
(Reporting by Danilo Masoni; editing by Tom Pfeiffer)