Economics
European Stocks Drop, Trimming 12th Straight Monthly Gain
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European stocks fell to a four-week low, paring a 12th consecutive month of gains for the Stoxx Europe 600 Index, as better-than-forecast data on U.S. business activity and consumer confidence bolstered speculation the Federal Reserve will pare its bond purchases.
Roche Holding AG retreated for a fifth day after its flu medicine failed to show additional benefits when given in a larger dose. Telecom Italia SpA sank 5.8 percent after UBS AG said the carrier’s plan to spin off its network unit may be a lengthy process. PostNL NV climbed to a four-month high after the Dutch mail-service company raised its profit forecast.