US talks yet to affect European stocks

<p>Concerns about US spending cuts have yet to affect stocks in Europe.</p>

European stocks have yet to be affected today (December 31st) by rising concern over possible spending cuts and automatic tax increases in the US.

These alterations could be set to come into play tomorrow as lawmakers in the country remain undecided on a budget agreement, Bloomberg reports.

At 08:15 GMT, the Stoxx Europe 600 Index slipped less than 0.1 per cent to 278.56 in London, while shares in Asia also showed little in the way of movement.

Ishaq Siddiqi, a market strategist at ETX Capital in London, noted: "Democrat and Republican lawmakers will meet again today to present a potential deal to Senate lawmakers but time is running out and hopes are rapidly receding for a deal later today."

Movers included Royal Bank of Scotland sliding 1.5 per cent after it became subject to a lawsuit in New York and Iberdrola SA dipping 2.3 per cent following Bolivia's decision to nationalise four businesses in the country.

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