European Stocks Fall From 11-Week High; STMicroelectronics Drops
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European stocks slid from an 11-week high as U.S. consumer confidence fell and a canceled finance ministers’ meeting fueled concern that the region’s leaders may struggle to resolve the debt crisis at a summit tomorrow.
STMicroelectronics NV sank 7.4 percent as Europe’s largest semiconductor maker forecast sales that trailed estimates. Meyer Burger Technology AG lost 13 percent as the maker of solar-panel equipment said it will halt output at a Swiss unit amid “high uncertainties” within the industry. BP Plc and BG Group Plc led energy companies higher after reporting earnings.