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European stocks declined for a second day, led by a retreat in mining shares, as concern grew China's economy will slow and German investor sentiment gained less than estimated in May. U.S. futures fell, while Asian shares rose.
The Stoxx Europe 600 Index lost 0.5 percent to 303.08 at 10:08 a.m. in London.
German investor confidence rose less than economists forecast in May. The ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations, which aims to predict economic developments six months in advance, increased to 36.4 from 36.3 in April. Economists forecast a gain to 39,5, according to the median estimates
Finance chiefs from the 27 members of the European Union meet today in Brussels to discuss plans to create a banking union for the region. The 17 euro-area finance chiefs also met yesterday.
A gauge of commodity producers was the worst performer of the 19 industry groups in the Stoxx 600 as JPMorgan lowered its forecast on China's 2013 gross domestic product to 7.6 percent from 7.8 percent, citing weak domestic demand.
Anglo American slipped 2.5 percent to 1,537 pence and Rio Tinto, the world's second-biggest mining company, fell 2.2 percent to 2,935 pence.
Aurubis AG retreated 5.5 percent to 46.59 euros as the world's second-largest producer of refined copper posted second-quarter earnings before interest and taxes of 11 million euros, missing the average analyst projection of 15.9 million euros.
Commerzbank declined 2.5 percent to 9.69 euros, the lowest price since at least 1992. Germany's second-biggest bank said it is offering the right to buy 20 shares for every 21 held by investors at 4.5 euros apiece. That equates to a 55 percent discount to yesterday's share price, or 38 percent below the 7.28 euros a share theoretical price the stock would have following the rights issue. The stock will be offered from tomorrow until May 28, the bank said on its website.
GDF Suez SA, Europe's largest utility by market value, declined 2.8 percent to 16.26 euros. Groupe Bruxelles Lambert SA sold 65 million shares in GDF for 16.26 euros, less than yesterday's closing price.
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