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European stocks retreated, halting a three-day rally for the Stoxx Europe 600 Index, as a report showed export in China, the world’s second-largest economy, grew at a slower pace than forecast.
China reported its biggest trade deficit last month since at least 1989, adding to last week’s releases on factory output and retail sales that signaled slowing growth.
Finance ministers from the 17 nations that use the euro gathered in Brussels today to approve the 130 billion-euro second bailout package for Greece. Bondholders last week agreed to exchange the country’s privately held debt for new securities.
National benchmark indexes declined in 11 of the 18 western-European markets. Germany’s DAX Index added 0.3 percent. The U.K.’s FTSE 100 Index and France’s CAC 40 Index increased 0.1 percent. Gauges in Italy, Spain, Portugal, Ireland and Greece fell.
Vedanta Resources Plc dropped 3.7 percent to 1,369 pence as copper snapped a three-day rally on the London Metal Exchange following signals that China’s economy has slowed. France’s Eramet SA lost 4.1 percent to 107.30 euros, while Rio Tinto Group fell 1.7 percent to 3,450.5 pence.
Temenos dropped 4.9 percent to 15.40 Swiss francs and Misys lost 3.8 percent to 328 pence after the Geneva-based software maker terminated merger talks after failing to reach an agreement on a deal.
Pirelli & C. SpA, Europe’s third-largest tiremaker, surged 7.2 percent to 8.39 euros, its highest price since December 2007. The company posted 2011 profit of 451.6 million euros, exceeding the 314.3 million-euro analyst estimate, and increased its dividend to 27 euro cents.
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