“European stocks declined as companies from Holcim Ltd. (HOLN) to Vestas Wind Systems A/S reported earnings that missed analysts’ estimates, overshadowing better than forecast profit at BNP Paribas SA and a rally at Actelion Ltd. (ATLN)Asian shares and U.S.-index futures fell.
Holcim slid 4.3 percent after the world’s second-biggest cement maker reported decreased profit as raw-material costs climbed. Vestas Wind Systems tumbled 8.6 percent after the largest wind-turbine maker reported a first-quarter net loss more than twice as big as the average analyst estimate. Actelion rallied 6.7 percent as Barclays Plc said punitive damages awarded against the pharmaceutical company are less than feared.
The Stoxx 600 slid 0.6 percent to 280.64 at 11:46 a.m. in London. The gauge in April had the biggest monthly increase so far this year as companies reported earnings that topped analyst estimates and the Federal Reserve maintained its pledge to keep interest rates low for an “extended period.””
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