Economics
European Stocks Slide, Extending 11-Month Low; SocGen Tumbles
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European stocks sank the most in fourth months, extending an 11-month low, amid concern the U.S. recovery is faltering and the world’s largest economy may lose its top credit rating.
Societe Generale SA, France’s second-largest bank, tumbled 9 percent after the company reported second-quarter results that missed analysts’ estimates. Cairn Energy Plc fell 5.1 after abandoning an oil well off Greenland. UPM-Kymmene Oyj slumped 9.3 percent, its biggest decline in eight years.