European stocks advanced for a sixth day, the longest winning streak this year, as services output shrank at a slower pace than initially estimated last month. U.S. index futures were little changed, while Asian shares fell.
The Stoxx Europe 600 Index advanced 0.4 percent to 305.36 at 9:29 a.m. in London. The benchmark gauge rose every daylast week, adding 1.8 percent in the period, as European Central Bank President Mario Draghi said interest rates in theeuro zone will remain low for an extended period. The measure has rallied 9.2 percent in 2013.
“We’re finally seeing economic data picking up,” Andrea Williams, who helps oversee $76 billion as head of European equities at Royal London Asset Management, said by phone. “The U.S. is still delivering strong data and core Europe is OK. The valuation of the market is still supportive.”
A report at 10 a.m. New York time is forecast to show the Institute for Supply Management’s index of U.S. non-manufacturing businesses rose to 53.1 in July from the prior month’s 52.2, according to a Bloomberg survey of economists. The ISM services survey covers industries ranging from utilities and retailing to housing, health care and finance.
