Economics
European Stocks Drop as Russia Faces Tougher Sanctions
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European stocks fell, after posting a weekly gain, as the U.S. and Europe threatened tougher sanctions on Russia over its suspected role in the shooting down of flight MH17 in Ukrainian airspace.
Commerzbank AG dropped 1.9 percent after a report that Germany’s financial-markets regulator found high operational risks at the country’s second-biggest lender. Deutsche Post AG lost 1.6 percent after JPMorgan Chase & Co. lowered its earnings and stock-price estimate for Europe’s largest postal company. Julius Baer Group Ltd. jumped the most since at least October 2009 after saying first-half profit rose 56 percent.