Bloomberg News

European Stock-Index Futures Rise Before U.S. Homebuilding Data

October 17, 2012

European Stock-Index Futures Rise Before U.S. Homebuilding Data

New-home construction in the U.S. probably rose in September to the highest level in four years, economists said before a report today. Photographer: Daniel Acker/Bloomberg

European stock-index futures gained before a report that may show American new-home construction climbed to the highest level in four years. Asian shares rallied while U.S. futures were little changed.

Futures on the Euro Stoxx 50 Index (SX5E), a benchmark for the euro region, increased 0.4 percent to 2,551 at 7:06 a.m. in London. Contracts on the U.K.’s FTSE 100 Index rose less than 0.1 percent. Standard & Poor’s 500 Index futures slipped 0.1 percent, while the MSCI Asia Pacific Index jumped 1 percent.

New-home construction in the U.S. probably rose in September to the highest level in four years, economists said before a report today. Builders broke ground on 770,000 houses at an annual rate, up from 750,000 starts in August and the most since October 2008, according to the median estimate of 80 economists surveyed by Bloomberg.

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net


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