Pursuits
Europe Stocks Fall Third Day; Carlsberg Misses Estimates
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European stocks retreated for a third day as companies including Carlsberg A/S missed earnings estimates and European Central Bank President Mario Draghi said he sees risks to the euro area’s recovery.
Carlsberg slid the most since May. Telefonica SA retreated to the lowest price since August after saying its results were hurt by a pretax loss of 438 million euros ($585 million) from a foreign-currency position. Natixis SA surged the most since August 2009 amid plans to make a 2 billion-euro exceptional payment to shareholders.