Economics
European Stocks Drop as Hochtief Plunges Following Report
This article is for subscribers only.
European stocks declined the most in more than a month as the shutdown of the U.S. federal government entered its second day.
Hochtief AG slumped 7.9 percent after the Sydney Morning Herald reported allegations of corruption at the company’s Australian business. KappAhl AB dropped 9.8 percent after the clothing retailer proposed paying no dividend this financial year. Portugal Telecom SGPS SA jumped the most in almost four months after agreeing to merge with Brazil’s Oi SA to form a network operator with 100 million subscribers.