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European stocks dropped for a second day as investors weighed escalating tensions between America and Russia over the future of eastern Europe. U.S. index futures and Asian shares were little changed.
The Stoxx Europe 600 Index slipped 0.3 percent to 334.06 at 10:40 a.m. in London. The benchmark measure lost 1.2 percent yesterday as technology shares retreated. The gauge has advanced 1.8 percent in 2014. The Standard & Poor’s 500 Index futures added less than 0.1 percent today, while the MSCI Asia Pacific Index slid 0.1 percent.
Ukraine sent additional police forces into its eastern regions after pro-Russian protesters seized government buildings in Donetsk, Luhansk and Kharkiv this week. The U.S. accused Russia of instigating the raids, amid increasing concern that Russian President Vladimir Putin plans to make Ukraine a loose federation. The U.S. has said there is evidence that some protesters may be paid provocateurs.
Suedzucker AG slumped 16 percent to 17.12 euros. The maker of sugar, starch and bakery additives projects full-year revenue of about 7 billion euros ($9.6 billion), below analysts’ estimates of 7.5 billion euros. The company, which is reviewing costs in the sugar business, said it expects operating profit of about 200 million euros, trailing estimates of 608 million euros.
Sports Direct slid 6.7 percent to 834 pence, for its biggest drop since Dec. 12. Ashley was selling 200 million pounds ($332 million) of shares in the sporting-goods retailer with Goldman Sachs Group Inc. as the sole book runner, FT reported. Ashley sold the stake after acquiring an 11 percent stake in House of Fraser Ltd.
Nokia rose 2.8 percent to 5.47 euros. China’s Ministry of Commerce said it has approved Nokia’s deal with Microsoft after the U.S. software company pledged it won’t ban Chinese phone makers from using its patents. With this clearance, Nokia expects the transaction to be completed this month.
FTSE 100 6,577.45 -45.39 -0.69%
CAC 40 4,411.82 -24.26 -0.55%
DAX 9,448.53 -62.32 -0.66%
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