European (SXXP) stocks declined for the fifth day, heading for the biggest weekly drop this year, as investors awaited data on American new-house sales and a report showed U.K. confidence dropped. U.S index futures were little changed, while Asian stocks fell. The Stoxx Europe 600 Index (SXXP) fell 0.3 percent to 264.72 at 10:20 a.m. in London. The benchmark gauge is poised for the biggest weekly drop this year. The Stoxx 600 has advanced 8.2 percent so far in 2012 as the European (SXXP) Central Bank disbursed more than 1 trillion euros ($1.3 trillion) to the region’s lenders and U.S. economic data topped forecasts. Standard & Poor’s 500 Index futures expiring in June were little changed. The MSCI Asia Pacific Index slid 0.6 percent. “We’ve seen some disappointing data this week, so the market is a bit on edge.� said John Plassard, director at Louis Capital Markets SA in Geneva. “Investors will follow the report on U.S. home sales with interest as they try to gauge the housing market’s recovery, which some still fear may not bounce back the way the consensus expects it to.� In the U.S., a report at 10 a.m. New York time may show that new-house sales rose to a 325,000 annual rate in February from 321,000 the previous month, according to a Bloomberg News survey of 78 economists. That would be the fastest since December 2010. U.K. consumer confidence declined in February as rising joblessness and weak economic growth made Britons more pessimistic about the future, Nationwide Building Society said. An index of sentiment fell to 44 from 47 in January, when it jumped nine points, the customer-owned lender said. A gauge of consumers’ expectations for the economy fell 4 points to 60. To contact the reporter on this story: Corinne Gretler in Zurich at cgretler1@bloomberg.net To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net

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