European stocks fell the most in more than a month as lenders declined.
The
Stoxx Europe 600 Index lost 0.9 percent to 387.68 at the close of
trading, erasing gains of as much as 0.3 percent. Lenders were the
biggest drag on the benchmark measure, with ING Groep NV and BNP Paribas
SA down more than 3 percent. Barclays Plc fell 3.2 percent after
setting aside an extra 750 million pounds ($1.2 billion) for the
settlement of a currency-manipulation probe.
The
Stoxx 600 rose last week to the highest level since July 2007. The
gauge has rallied 13 percent in 2015 as Greece reached a bailout deal
and the European Central Bank announced quantitative easing. ECB
president Mario Draghi may present details of the plan at a Governing
Council meeting in Nicosia on Thursday. Investors are also awaiting the
ECB’s first growth and inflation forecasts for 2017 unveiled that day,
for clues on the duration of QE.
A
release on Friday may show U.S. payrolls advanced by 235,000 last
month, following a 257,000 increase in February, according to economists
surveyed by Bloomberg.
Source : Bloomberg
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