Europe Stocks Slide With Retailers on Thin Volume Before Holiday
- Next slumps after cutting full-year sales growth forecast
- Volkswagen down after failing to reach agreement with the U.S.
European Close: Currency Volatility: Pound vs. Dollar
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Retailers led a fourth day of declines in European shares in a holiday-shortened week.
Next Plc led retail shares to the worst performance among Stoxx Europe 600 Index groups, down 15 percent after cutting its annual sales-growth forecast. Marks & Spencer Group Plc and Associated British Foods Plc, owner of clothing chain Primark, slid 4.9 percent or more. Volkswagen AG dropped 2 percent after it failed to reach an agreement with U.S. authorities over its tainted diesel engines.