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European stocks declined, following their worst start to a year since 2010, as Lloyds Banking Group Plc dragged a gauge of banks lower. U.S. index futures were little changed, while Asian shares fell.
The Stoxx Europe 600 Index retreated 0.4 percent to 321.16 at 9:19 a.m. in London, erasing an advance of as much as 0.4 percent. The Stoxx 600 declined 1.8 percent last month. The equity gauge has slumped 4.2 percent from its six-year high on Jan. 22 as the Argentinian government’s decision to allow the peso to devalue triggered a rout in emerging-market currencies. The benchmark fell 0.7 percent last week.
In China, a manufacturing gauge showed output slowed in January to its lowest level in six months. The purchasing managers’ index fell to 50.5 from 51, the National Bureau of Statistics and China Federation of Logistics and Purchasing said Feb. 1. Numbers above 50 mean activity increased. A separate report today showed output from services industries in the world’s second-largest economy also cooled last month.
Lloyds retreated 2.4 percent to 81.3 pence. The lender, which is 33 percent-owned by the U.K. government, also said it will not apply to the Prudential Regulatory Authority to resume dividend payouts until the second half of this year.
Julius Baer Group Ltd. declined 2.8 percent to 42.80 francs after saying net new money climbed 4 percent to 7.6 billion francs ($8.4 billion) in 2013. The Swiss wealth manager said in November that it would target annualized growth of 4 percent to 6 percent.
Colruyt SA slumped 8.7 percent to 38.42 euros, its biggest decline in more than two years. The Belgian discount food retailer said it will report a smaller profit for the current financial year because sales growth has slowed in the last three months and the company has lost market share. Colruyt reports its annual financial results on June 23.
Dufry AG (DUFN) declined 2.6 percent to 138.60 Swiss francs after Citigroup Inc. lowered its rating on the operator of duty-free shops to sell from neutral. The shares retreated 9.1 percent in January to close at a three-month low.
FTSE 100 6,496.63 -13.81 -0.21%
CAC 40 4,144.82 -20.90 -0.50%
DAX 9,247.18 -59.30 -0.64%
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