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European Stocks Little Changed; ITV Rallies on 39% Rise in 2014 Pre-Tax Profit

3/04/15 7:46 AM EST
European stocks were little changed on Wednesday as investors digested new data on euro-zone economic growth and retail sales ahead of Thursday’s European Central Bank monetary policy meeting in Cyprus where it’s due to share details of the bond purchasing index announced in January. In London, precious metals miner Fresnillo plc tumbled after posting a 40% slump in full-year pre-tax profit amid lower silver and gold prices though its CEO said a strong balance sheet will support 2015 growth plans. Among London’s biggest risers, ITV was up after the commercial television network behind the “Downton Abbey” and “Coronation Street” series posted a 39% jump in full-year pre-tax profit. The broadcaster said it will propose raising the annual dividend by 34% to 4.7 pence a share, along with a million special dividend of 6.25 pence a share. It’s bullish on 2015, amid expectations of continued revenue growth across all business segments and a positive outlook for television advertising. In Frankfurt, Henkel was down after the maker of Persil laundry detergent and Dial soap posted a lower than expected fourth-quarter adjusted operating profit.
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