Most European Stocks Decline as Travel Companies Retreat
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Most European stocks dropped, following the Stoxx Europe 600 Index’s largest decline in a month yesterday, as travel-and-leisure companies slid after TUI AG reported a wider loss and auto-related shares slipped.
TUI AG fell 2.5 percent after the tour operator’s loss before interest, taxes and amortization widened. Renault SA and Daimler AG each retreated more than 1 percent as a report showed European car sales slowed. Banco Espirito Santo SA decreased 5.5 percent as it announced a capital increase. Bouygues SA climbed