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European stocks slipped from a five-year high as the region’s industrial output contracted more than forecast. U.S. index futures and Asian shares fell.
Euro-area industrial output contracted more than economists forecast in July as manufacturers struggled to shake off the legacy of a record-long recession. Factory production in the 17-nation euro area fell 1.5 percent from June, when it gained 0.6 percent, the European Union’s statistics office in Luxembourg said today. That’s more than the 0.3 percent contraction forecast by economists, according to the median of 33 estimates in a survey.
RWE lost 2.5 percent to 24.42 euros as Handelsblatt reported that Chief Executive Officer Peter Terium may suggest an annual dividend below last year’s 2 euros a share at a supervisory board meeting next week. The German newspaper cited unidentified people close to the board.
EDF SA, Europe’s biggest power generator, slipped 2.9 percent to 21.59 euros. Norges Bank, the second-largest shareholder, sold 13 million shares at 21.50 euros each, according to three people familiar with the deal.
Richemont declined 3.5 percent to 90.20 Swiss francs. The world’s largest jewelry maker said revenue in the Asia-Pacific region, its biggest market, rose 4 percent at constant exchange rates in the five months through August as lower sales in China offset growth in Hong Kong and Macau. That compared with growth of 12 percent for the same period last year.
FTSE 100 6,566.59 -21.84 -0.33%
CAC 40 4,101.81 -17.30 -0.42%
DAX 8,477.92 -17.81 -0.21%
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