Europe Stocks Drop as ECB Loans Fail to Ease Debt-Crisis Concern
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European stocks fell for the first time in three days as lenders sought more funds from the European Central Bank than economists had predicted, reducing optimism that the debt crisis will be contained.
SAP AG, the world’s largest maker of business-management software, tumbled the most in two years as U.S. rival Oracle Corp. reported sales and profit that missed analysts’ estimates. Italy’s UniCredit SpA led a gauge of banks lower. Konecranes Oyj slipped 3.6 percent in Helsinki after announcing a restructuring of its operations.