“European stocks declined, snapping the longest winning streak in 10 months for the Stoxx Europe 600 Index, as carmakers retreated. U.S. index futures and Asian shares dropped.
Volkswagen AG (VOW) led a gauge of auto companies lower as a report stoked speculation that Germany may raise taxes on company cars. BHP Billiton Ltd. (BHP) led mining companies lower as copper declined in London. Hannover Re slid 2.8 percent after the world’s third-biggest reinsurer cut its profit forecast. Man Group Plc (EMG) led advancing shares after starting a fund in Japan.
The Stoxx 600 fell 0.7 percent to 281.98 at 11:24 a.m. in London after eight days of gains pushed the measure to a two- month high. The gauge in April had the biggest monthly increase so far this year as companies reported earnings that topped analyst estimates and the Federal Reservemaintained its pledge to keep interest rates low for an “extended period.”
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