European stocks fell
for a second day as some disappointing earnings reports cast doubt on
the strength of the euro-area economic recovery, amid weak commodity and
oil prices.
Total SA and Royal
Dutch Shell Plc slid at least 1.9 percent, contributing the most to a
drop in energy stocks. Novartis AG pulled health-care shares down,
falling 1.6 percent after reporting profit that missed estimates and
agreeing to pay $390 million to settle claims that it paid kickbacks to
some U.S. pharmacies. Anglo American Plc was among the biggest mining
decliners, falling 5.7 percent. BASF SE dragged chemical shares lower,
losing 4.7 percent after cutting its targets for sales and profit this
year.
The Stoxx Europe 600
Index slid 1.1 percent to 371.88 at the close of trading. Shares
yesterday snapped a two-day rally, falling from a two-month high, amid
speculation about the strength of economies in Europe, Asia and the U.S.
Source: Bloomberg 
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