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European stocks declined after policy makers meeting in Brussels failed to reach a decision on assisting debt-laden Greece.
With creditors led by Germany refusing to put up fresh money or offer debt relief, the finance chiefs were unable to scrape together enough funds from other sources to help alleviate Greece’s debt burden, set to hit 190 percent of gross domestic product in 2014.
Siemens AG fell 1.4 percent to 77.48 euros after Deutsche Bank AG cut its rating on Europe’s largest engineering company to sell from hold, and reduced its price target on the shares to 65 euros from 75 euros, citing threats to its 2014 margin target, including low growth prospects.
SAP AG, the largest maker of enterprise-management software, added 1.9 percent to 58.76 euros, its highest price since Sept. 6, as Salesforce.com Inc. reported third quarter earnings per share in line with analysts’ estimates and raised forecasts for 2013 and 2014.
FTSE 100 5,740.49 -7.61 -0.13%
CAC 40 3,459.6 -2.46 -0.07%
DAX 7,173.45 +0.46 +0.01%
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