European Markets Fall on Weak German Business Confidence and Continued Political Folly

“European (SXXP) stocks fell for a second day as German business confidence declined to its lowest level in more than two years. U.S. index futures advanced, while Asian shares dropped.

Volkswagen AG (VOW) slid 2.2 percent, Bayerische Motoren Werke AG (BMW) slipped 1.6 percent and Porsche Automobil Holding SE (PAH3) lost 2.2 percent as Handelsblatt newspaper reported rebates on new cars rose in June. Michael Page International Plc, Solvay SA and Royal Vopak (VPK) NV dropped after analysts downgraded the stocks. Bankia SA led gains among Spanish lenders.”

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