European Stocks Retreat as Glencore Falls, Kentz Rallies
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European stocks fell, following three weeks of gains for the Stoxx Europe 600 Index, as this week’s release of minutes from the Federal Reserve’s last meeting fueled speculation policy makers will trim bond buying.
Glencore Xstrata Plc dropped 2.1 percent, following mining companies lower. Holcim Ltd. sank the most in 21 months after UBS AG downgraded its rating on the world’s biggest cement maker. Spanish and Italian banks led losses in European lenders as UniCredit SpA and Banco Santander SA slid more than 2.5 percent. Kentz Corp. rallied 24 percent as the Irish oilfield-services provider rejected two takeover approaches.