European Stocks Retreat as Miners Slide, German Data Disappoint
- Anglo American leads commodity producers lower as metals drop
- Philips slides amid prospects of IPO for lighting division
European Shares Suffer Third Straight Day of Losses
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European shares declined for a third day as energy and commodity producers slid, while investors assessed growth prospects following worse-than-expected German business-confidence data.
Anglo American Plc and BHP Billiton Ltd. fell at least 5.8 percent, leading miners to the biggest decline of the 19 industry groups on the Stoxx Europe 600 Index, as base metals retreated. Royal Dutch Shell Plc lost 2.2 percent, dragging oil companies lower as crude slid. Royal Philips NV dropped 4.3 percent after saying it is considering an initial public offering of its lighting business.