“European stocks slid for a third day as German investor confidence declined more than forecast. Asian shares retreated while U.S. index futures indicated a rebound from the biggest drop in five months.
Michael Page International Plc (MPI) slumped the most in three months after the U.K. recruiter reported lower profit. LVMH Moet Hennessy Louis Vuitton SA (MC) retreated to the lowest price in more than four months as revenue growth slowed. Danone (BN) rallied to a five-year high as the food company posted first-quarter sales growth that beat analysts’ estimates.
The Stoxx Europe 600 Index (SXXP) fell 0.6 percent to 288.61 at 11:06 a.m. in London, extending the decline over the past three days to 2.2 percent. The benchmark measure has still gained 3.2 percent this year as U.S. lawmakers agreed on a compromise budget and central banks maintained stimulus measures.
“The ZEW and other data shows that Germany is facing a slowdown,” Soeren Steinert, who helps manage about $24 billion as associate director for equities trading at Quoniam Asset Management GmbH inFrankfurt, wrote in an e-mail. “That will affect Europe for sure.”
The MSCI Asia Pacific Index lost 0.4 percent today, a second day of losses. Standard & Poor’s 500 Index futures rose 0.6 percent after the U.S. gauge sank 2.3 percent. American equities extended losses yesterday as explosions near the finish line of the Boston Marathon killed three people…..”
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