Deals
European Stocks Decline as Remy Cointreau, Pernod Retreat
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European stocks dropped, erasing a two-day gain, as Remy Cointreau SA and Pernod Ricard SA dragged food-and-beverage companies lower.
Remy sank the most since January 2009 after forecasting that annual profit will decline by at least 10 percent. Repsol SA advanced the most in 13 months as the governments of Spain and Argentina reached a preliminary agreement to compensate the Madrid-based oil company for its stake in YPF SA. Algeta ASA posted its biggest rally in more than two years after saying that Bayer AG has started talks to buy the Norwegian company.