Stocks fluctuate on budget talks

European stocks fluctuated between gains and losses as German business confidence climbed, while European Union leaders remained…

European stocks fluctuated between gains and losses as German business confidence climbed, while European Union leaders remained divided on the region's next budget.

US index futures and Asian shares rose.

Outotec Oyj surged 6.8 per cent after predicting an increase in its operating-profit margin in 2013. The Finnish maker of mining machinery said its sales and operating margin will increase in 2013, driven by a strong order book, the current market outlook and customer tendering activity.

Valeo, France's second-biggest car-parts maker, gained 1.8 per cent to €34.92. The stock was raised to buy from neutral at Goldman Sachs Group.

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European Aeronautic, Defence and Space Co declined 1.4 per cent after a report that Germany will buy shares in the world's largest maker of civil aircraft from France. The Stoxx 600 added 0.1 per cent to 272.03 at 1.24pm in London.

The gauge has jumped 3.5 per cent so far this week, the most since early February, as US and Chinese data added to signs the global economy is on the mend and optimism grew that American lawmakers will reach a budget compromise.

"There aren't any big surprises in Europe today," said Pierre Mouton, a fund manager who helps oversee $6 billion at Notz Stucki and Cie in Geneva.

"We know all of the risks. After several difficult weeks, we've had a good week." Futures on the Standard and Poor's 500 Index added 0.3 per cent today, after US markets were closed yesterday for Thanksgiving.

The MSCI Asia Pacific Excluding Japan Index climbed 0.8 percent.

The volume changing hands on Stoxx 600 companies was 34 percent lower than the 30-day average.

Bloomberg