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European stocks fell for a third day, sending the Stoxx Europe 600 Index to its lowest level in a month, after a rout in emerging-market currencies spurred concern the global economic recovery is faltering. Asian shares sank, while U.S. index futures gained.
Benchmark equity gauges in Japan, Hong Kong, South Korea, Taiwan and India declined today, while emerging-market currencies weakened. Last week, currencies from Turkey to Argentina sank with developing-market stocks on signs Chinese manufacturing is slowing as the Federal Reserve reviews its stimulus policies this week.
In Germany, data today showed that the Ifo institute’s business climate index increased for a third month to 110.6 in January, exceeding the median prediction in a Bloomberg News poll that forecast 110. The gauge, based on a survey of 7,000 executives, was at 109.5 in December.
BG Group Plc plunged 15 percent after the U.K. oil and gas producer said 2013 earnings would be lower than expected.
Vodafone Group Plc lost 5 percent after AT&T Inc. said it doesn’t intend to make an offer for Europe’s largest mobile-phone operator.
Banco Popolare SC, Italy’s fourth-biggest bank, was suspended from trading in Milan after slumping the most in five years. The lender said last week it planned to sell as much as 1.5 billion euros ($2.1 billion) of shares to bolster capital.
FTSE 100 6,559.27 -104.47 -1.57%
CAC 40 4,142.39 -19.08 -0.46%
DAX 9,343.33 -48.69 -0.52%
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