Europe Stocks Drop to Seven-Week Low on Concern Rally Overdone

Europe Stocks Drop to Seven-Week Low on Concern Rally Overdone

Simon Dawson/Bloomberg

RBS lost 6 percent to 306.2 pence, the most since May 3, after Stephen Hester, chief executive officer of Royal Bank of Scotland Group Plc, said he is resigning later this year at the board’s request as the state-controlled British bank prepares for privatization.