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European stocks decline third day on fears that the summit of regional leaders this week will not lead to drastic measures to contain the debt crisis.
Shares of Unicredit SpA (UCG) and BNP Paribas (BNP) have fallen by at least 5%. Nokia Oyj (NOK1V) lost 11% amid rumors that Samsung Electronics Co. incomes can be exactly like above analysts' forecasts. Shire Plc (SHP) fell by 11% after regulators approved its version of the second drug selling.
Stoxx Europe 600 Index (SXXP) fell 1.5% to 242.82, and 2.7% in the last three on the background data on an index of German business confidence, which fell to a two-year low, increasing fears of eurozone sovereign debt crisis
We also learned that Angela Merkel has rejected the opportunity to exchange debt for the solution of the financial crisis in the peripheral countries, and stated that it would be economically wrong and counterproductive.
National indexes fell in all 18 regions of Western Europe. The CAC 40 fell by 2,2%, FTSE 100 by 1.1%, while Germany's DAX lost 2.1%. ASE index in Greece fell to 6.8%.
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