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Most European stocks fell before the release of minutes from the latest Federal Reserve meeting, as investors waited for clues about further measures to spur economic growth.
Burberry Group Plc (BRBY) tumbled to its lowest this year after quarterly sales growth missed projections. UniCredit SpA and BNP Paribas SA led bank shares higher. Getinge AB (GETIB) rose 3.9 percent after saying it expects “significant improvement” in second- half earnings growth.
The Stoxx Europe 600 Index dropped less than 0.1 percent to 255.59 at the close of trading. Two out of three shares on the gauge slid. The benchmark measure yesterday rose for the first time in a week as manufacturing in the U.K. and Italy unexpectedly rose.
National benchmark indexes fell in 11 of the 18 western European markets.
FTSE 100 5,664.48 +0.41 +0.01% CAC 40 3,157.25 -18.16 -0.57% DAX 6,453.85 +15.52 +0.24%
Tod’s SpA (TOD), the Italian maker of pink alligator loafers, lost 4.8 percent to 72.15 euros. LVMH Moet Hennessy Louis Vuitton SA (MC), the world’s biggest luxury-goods company, fell 3.2 percent to 116.65 euros. PPR (PP) SA, the French owner of Gucci, retreated 3.5 percent to 109.50 euros.
Britvic, the maker of Robinsons fruit drinks, plunged 13 percent to 260.1 pence, the biggest drop since March 2006, after saying full-year results will be “at the bottom end” of analysts’ estimates and a recall of its Fruit Shoot products will hurt earnings further.
SBM Offshore NV (SBMO) slid 6.6 percent to 10.47 euros. SBM’s jack-up rig in the Yme oilfield in the North Sea was evacuated after cracks were found in cement supporting the legs, Upstream reported late yesterday.
Mediaset SpA (MS) retreated 3.3 percent to 1.31 euros.
UniCredit climbed 2.3 percent to 2.79 euros. BNP Paribas advanced 1.5 percent to 29.94 euros.
Getinge, a Swedish sterilization-systems maker, rose 3.9 percent to 179.90 kronor. The company said the earnings outlook for 2012 remained favorable as there will be a significant improvement in profit growth in the second quarter.
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