European Stocks Fall as Germany, Italy, Portugal Lead Declines
The government’s determination to force compliance with its “Florange Law” -- promising extra voting power to those owning stocks for more than two years -- became apparent last week when it increased its stake in Renault SA to scupper the carmaker’s attempt to avoid making the change.
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European stocks fell the most in three weeks, with German, Italian and Portuguese gauges leading declines.
The Stoxx Europe 600 Index slid 0.8 percent to 410.93 at the close of trading in London. Germany’s DAX Index, Portugal’s PSI 20 Index and Italy’s FTSE MIB Index slipped at least 1.8 percent. Chemical companies fell the most of the 19 industry groups on the Stoxx 600.