Economics
European Stocks Drop as Manufacturing, Services Miss Estimates
Bearish on Earnings, Bullish on Wall Street: Purves
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European stocks declined as data showed euro-area output expanded at a slower pace in April, and Ericsson AB led technology shares lower.
The Stoxx Europe 600 Index lost 0.4 percent to 407.18 at the close of trading, having earlier tumbled as much as 1 percent and gained 0.4 percent. A report showed euro-area manufacturing and services missed forecasts, signaling it may take longer for European Central Bank President Mario Draghi’s quantitative-easing plan to revive the economy.