European Stocks Are Little Changed, Paring Gains

European stocks were little changed as investors weighed German data that showed business confidence in Europe's largest economy increased to the highest level since April 2012. U.S. index futures and Asian shares were also little changed.

Novartis AG climbed 1.5 percent after proposing a share buyback and saying it will enter new business segments. Solarworld AG rallied 6.1 percent after a report that it will announce the takeover of Bosch Solar Energy AG next week. Rhoen-Klinikum AG fell 2.9 percent after saying its second-biggest shareholder sued to block the sale of 43 clinics to Fresenius SE's Helios unit.

The Stoxx Europe 600 Index gained 0.1 percent 322.83 at 10:29 a.m. in London. The benchmark gauge has lost 0.1 percent this week as Federal Reserve minutes signaled policy makers may reduce stimulus sooner than investors predicted. Standard & Poor's 500 Index futures added less than 0.1 percent today, while the MSCI Asia Pacific Index increased 0.1 percent.

In Germany, the Ifo institute's business climate index, based on a survey of 7,000 executives, increased to 109.3 this month from 107.4 in October. That beat economists' forecast for a gain to 107.7, according to a Bloomberg News survey.

Separate data confirmed a preliminary estimate that showed German economic growth slowed to 0.3 percent in the third quarter, from 0.7 percent in the previous three months. The expansion was driven by domestic demand that offset weaker exports, the report showed.

Eurogroup Meeting

Euro-area finance ministers meet in Brussels today. The so-called Eurogroup will for the first time discuss the European Commission's opinions on member states' draft budgets and whether they comply with rules to ensure transparency in the budget-making process and fiscal sustainability.

Novartis gained 1.5 percent to 73.45 Swiss francs. Europe's biggest drugmaker said it will start a $5-billion share buyback immediately. Novartis also said it will develop new business segments in dermatology, heart failure, respiratory illnesses and cell therapy.

Solarworld advanced 6.1 percent 81.2 euro cents. Germany's biggest maker of solar panels has agreed on most points with Bosch Solar on a takeover of the company, according to a Wall Street Journal Deutschland report, which cited two unnamed sources close to the talks.

Rhoen-Klinikum fell 2.9 percent to 20.54 euros. B. Braun Melsungen AG, which holds a 10.98 percent stake in the company, asked the court to void the sale of clinics or rule it needs 90 percent shareholder support, Rhoen-Klinikum said in a statement. In September, Helios agreed to pay Rhoen-Klinikum 3.07 billion euros ($4.1 billion) for the German clinics, a deal that would create Europe's largest chain of private hospitals.