Europe Stocks Drop as Lufthansa, Vallourec Cut Profit Forecasts
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European stocks fell from a six-year high as companies including Deutsche Lufthansa AG and Vallourec SA cut their profit forecasts.
Lufthansa slid the most since September 2001 after lowering operating-profit estimates for this year and next. Vallourec SA plunged the most in two years after predicting earnings will drop 10 percent in 2014. Airbus NV lost 3.1 percent after saying Emirates canceled its order for A350 wide-bodied aircraft. Inditex SA rose 1.1 percent after posting first-quarter profit that beat analyst estimates, and saying it plans a share split.