Pursuits
Most European Stocks Drop as Cable & Wireless Falls; Rio Rises
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Most European stocks declined after Hungary raised less than planned in a debt sale and U.S. companies reported revenue that missed analysts’ estimates, overshadowing a rally in mining shares.
Cable & Wireless Worldwide Plc slumped 17 percent after saying profit will be at the lower end of forecasts as the U.K. government cuts spending. Daimler AG retreated as Morgan Stanley rated the stock “underweight.” Rio Tinto Group and BHP Billiton Ltd. led a surge in mining shares as metals advanced.