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31.05.2013 17:20

European stocks close

European stocks fell to a four-week low, paring a 12th consecutive month of gains for the Stoxx Europe 600 Index, as better-than-forecast data on U.S. business activity and consumer confidence bolstered speculation the Federal Reserve will pare its bond purchases.

National benchmark indexes fell in all of the 18 western European markets, except Greece. The U.K.'s FTSE 100 slid 1.1 percent and France's CAC 40 retreated 1.2 percent, while Germany's DAX lost 0.6 percent.

Roche slipped 1.4 percent to 239.10 Swiss francs after a study in south-east Asia showed the effectiveness of its Tamiflu drug remained unchanged when the dosage was doubled for patients with severe influenza.

Salzgitter AG slid 5.2 percent to 29.36 euros after Nomura Holdings Inc. cut its rating on the shares to reduce from neutral, saying it expects increased costs at the German company's steel division.

PostNL rallied 6.9 percent to 2.11 euros, the highest price since Jan. 11. The company said it expects so-called underlying operating income of 50 million euros ($65 million) to 90 million euros in 2013, compared with a previous forecast of 20 million euros to 60 million euros.

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