Stocks little changed as EU ministers meet

European stocks were little changed as the region's finance ministers gathered in Luxembourg to discuss the sovereign-debt crisis.

US index futures were also little changed, while Asian shares fell.

Banco Popular Espanol and Bankia paced declining shares, both sliding at least 4 per cent in Madrid.

Alcatel-Lucent dropped to the lowest in at least 23 years as Credit Suisse reiterated its recommendation to reduce holdings in the stock.

Vedanta Resources led mining companies higher, limiting losses in Europe.

The Stoxx Europe 600 Index declined less than 0.1 per cent to 271.3 at 12:51 am in London, after earlier rising as much as 0.3 per cent and falling as much as 0.4 per cent.

Standard and Poor's 500 Index futures added less than 0.1 per cent today, while the MSCI Asia Pacific Index slipped 0.4 per cent.

"There is a real tug of war going on," Stewart Richardson, chief investment officer of RMG Wealth Management said.

"On the one hand, fundamentals have been deteriorating. On the other hand you have money- printing that has been enough to send market higher. We are very cautious in the medium term and are waiting for a signal from the market."

Finance ministers from all the 27 countries in the European Union convened in Luxembourg today in the lead up to a summit of the region's leaders in Brussels on October 18-19.

Bloomberg