European stocks fell from a six-year high, posting their biggest decline in a month, as shares of technology companies tumbled.
Technology
shares lost 2 percent, the most among 19 industry groups in the
benchmark gauge, with United Internet AG falling 4.3 percent and ARM
Holdings Plc dropping 2.4 percent. Osram Licht AG slid the most since it
started trading after its spinoff from Siemens AG as Berenberg Bank
lowered its rating. Altice SA jumped 11 percent, while Bouygues SA
slumped the most since August 2012, after Vivendi SA agreed to sell its
phone unit SFR to Altice in a deal valued at more than 17 billion euros
($23.3 billion).
The
Stoxx 600 fell 1.2 percent to 334.96 at the close of trading. The
Nasdaq Composite Index declined 2.6 percent on April 4 for its biggest
drop in two months, with shares from Google Inc. to Yahoo Inc. plunging
as investors sold the bull market™s biggest winners.
The
Stoxx 600 dropped today after nine straight days of gains amid merger
and acquisition activity and as U.S. payrolls and manufacturing
increased optimism that the world™s largest economy is strengthening. It
rose on April 4 to the highest level since January 2008.
National
benchmark indexes retreated in all western-European markets today
except Iceland. France™s CAC 40 and the U.K.™s FTSE 100 fell 1.1 percent
each, while Germany™s DAX slid 1.9 percent.
Copy Source : Bloomberg
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