European
stocks dropped, snapping their biggest three-day rally since June, as
sales of new houses in the U.S. unexpectedly plunged in March to an
eight-month low and investors weighed manufacturing data from China to
America.Scania AB declined the most since October 2011 after a shareholder rejected Volkswagen AG��s offer for the remaining shares in the truckmaker. Royal Vopak NV plunged to its lowest price since November 2011 after saying profit may fall 5 percent to 10 percent this year. Associated British Foods Plc advanced the most in 14 years as its Primark chain posted a 26 percent increase in first-half profit and planned a U.S. entry.
The Stoxx Europe 600 Index fell 0.6 percent to 335.05 at the close of trading. The benchmark gauge had gained 3.2 percent in the past three days amid increased mergers-and-acquisitions activity and better-than-estimated U.S. data.
Sales of new American houses dropped 14.5 percent to a 384,000 annualized pace, lower than forecasts of all economists surveyed by Bloomberg and the weakest since July, Commerce Department data showed. The median forecast of 74 economists surveyed by Bloomberg News called for the pace to accelerate to 450,000.
Source : Bloomberg
0 komentar :
Post a Comment