Europe Stocks Drop From 7-Year High as Sika, Energy Shares Slump
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A plunge in construction and energy companies sent European stocks down after a four-week rally.
The Stoxx Europe 600 Index slid 0.7 percent to 348.61 at the close of trading in London after a 1.1 percent gain last week propelled it to its highest level since January 2008. Sika AG tumbled a record 22 percent today and Cie. de Saint-Gobain SA also fell as a hostile bid by Europe’s biggest supplier of building materials sparked a management revolt at the Swiss company. Oil and gas producers reached a three-year low. The DAX Index dropped 0.7 percent from an all-time high after a report showed German industrial production climbed less than forecast.