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European stocks declined, following their biggest rally in two months, as investors awaited the outcome of a Federal Reserve meeting starting today. U.S. stock-index futures were little changed, while Asian shares advanced.
German investor confidence increased for a fifth month in December. 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, rose to 62 from 54.6 in November. Economists predicted an increase to 55, according to the median of 35 estimates in a Bloomberg News survey.
Rexel retreated 1.2 percent to 18.21 euros. Ray Investment said it completed the sale of 20 million shares in the electrical-equipment distributor at 17.90 euros apiece.
CGG plunged 16 percent to 12.22 euros after cutting its 2013 earnings before interest and taxes target to $400 million to $420 million, down from a previous projection of $470 million. The company said market conditions remain difficult and that clients continue to delay large projects.
Zurich Insurance rose 1.7 percent to 247.70 Swiss francs. The insurer had been seeking a CFO since the suicide of Pierre Wauthier in August. Vibhu Sharma has been filling the position on an interim basis. Quinn will leave Swiss Re at the end of April.
FTSE 100 6,498.72 -23.48 -0.36%
CAC 40 4,084.87 -35.01 -0.85%
DAX 9,132.13 -31.43 -0.34%
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