European Stocks Trading Lower As Germany Challenges OMT

European stocks pared their gains as Germany’s top court set a date for its ruling on the euro zone’s permanent rescue fund. U.S. index futures were little changed, while Asian shares climbed.

The Stoxx Europe 600 Index increased 0.1 percent to 323.2 at 9:02 a.m. in London after earlier rising as much as 0.3 percent. The gauge has advanced 0.3 percent this week. The equity benchmark rallied 1.5 percent yesterday as the European Central Bank left interest rates at a record low. Standard & Poor’s 500 Index futures added 0.2 percent today, while the MSCI Asia Pacific Index gained 1.4 percent.

“European equities are set to open marginally higher,” Jonathan Sudaria, a trader at Capital Spreads in London, wrote in an e-mail. “However, as is usual for a non-farm Friday, movement ahead of the figure is expected to be muted. Equities have had a nice bounce over the last few days, but traders will need to see how the jobs and unemployment data comes in to determine if it’s a genuine turn around in sentiment or just a dead cat.”

Bloomberg

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