2014.05.2805:19:57UTC+00European stocks slightly changed, close to 6-year peak

European shares were slightly changed after a five-day surge that made them reach the highest level since January 2008.

Elekta AB tumbled 8.1% following its quarterly profit failed to meet estimates. Hugo Boss AG dropped 2.9% as its majority shareholder sold a stake in the German maker of luxury suits. Osram Licht AG slumped 8.6% following it cut sales forecast for 2014. Telecom Italia SpA profited 4% as Goldman Sachs Group Inc. included it to a conviction-buy list.

The Stoxx Europe 600 Index slid 0.2% to 343.84 at 8:08 a.m. in London. The equity measure finished a five-day rally yesterday, its longest winning stretch since April. The benchmark has increased 1.8% so far in May.

The European benchmark has accelerated 8.3% from its lowest point this year on February 4. It deals at 15.3, the projected earnings of its members, up from a multiple of 13.8 at the start of the year.

The European Commission will release the consumer confidence report today at 11:00 a.m. in Brussels while a report from Germany’s Federal Labor Agency will be at 9:55 a.m. in Nuremberg.