European Stocks Fall as LVMH Leads Luxury Retailers Lower
This article is for subscribers only.
European stocks fell the most in a week, extending losses in the final half hour of trading, as companies including LVMH Moet Hennessy Louis Vuitton SA and Statoil ASA posted earnings that missed forecasts.
LVMH fell the most since August 2011 after the world’s largest luxury-goods company also said demand weakened in Asia. Air France-KLM Group climbed 2.6 percent after reporting second-quarter profit that beat estimates. Sky Deutschland AG added 1.4 percent after British Sky Broadcasting Group Plc offered to buy the German broadcaster. Royal Bank of Scotland Group Plc rallied the most in more than four years after saying first-half profit almost doubled.