European Stocks Decline as Philips Plunges; Man Group Climbs

European stocks fell, retreating after the Stoxx Europe 600 Index’s biggest gain in two months, as Royal Philips Electronics NV tumbled on deteriorating demand for lighting and consumer electronics.

Philips plunged the most in more than two years after the world’s biggest maker of patient-monitoring systems forecast “low single-digit” sales growth at its lighting business. Merck KGaA lost 2.8 percent after halting development of a multiple sclerosis pill. Man Group Plc climbed 4.9 percent as analysts recommended the world’s largest publicly traded hedge fund manager.