European
stocks fell, trimming their fifth weekly gain in six weeks, as
companies from Neste Oil (NES1V) Oyj to Sandvik AB posted quarterly
earnings that missed estimates and tensions escalated between the U.S.
and Russia over Ukraine.Neste Oil slid 5.1 percent after also lowering its 2014 profit forecast. Sandvik lost 3 percent. Deutsche Bank AG declined 2 percent after a report that it may announce a capital increase. Electrolux AB rallied the most in five years after posting earnings that beat estimates and increasing its forecast for European demand growth. Meda AB jumped to a record after the Financial Times said Mylan Inc. raised its offer for the Swedish drugmaker.
The Stoxx Europe 600 Index slipped 0.8 percent to 333.5 at the close of trading. The gauge posted a weekly advance of 0.3 percent amid increased mergers-and-acquisitions activity.
National benchmark indexes declined in all 18 markets in western Europe except Norway. The U.K.��s FTSE 100 dropped 0.3 percent, and Germany��s DAX (DAX) lost 1.5 percent. France��s CAC 40 retreated 0.8 percent.
Copy Source : Bloomberg
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