Pursuits
European Stocks Retreat as Merkel, Sarkozy Meet on Euro Rules
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European stocks fell, trimming three weeks of gains for the Stoxx Europe 600 Index, as a summit between German Chancellor Angela Merkel and French President Nicolas Sarkozy failed to assuage concern over the debt crisis.
UniCredit SpA tumbled as rights to buy the bank’s shares slumped in their first day of trading in Milan. GlaxoSmithKline Plc fell 4.1 percent after saying its experimental respiratory drug Relovair failed to prove its superiority to an existing medicine in a late-stage study. Nokia Oyj fell 2.8 percent as supplier RF Micro Devices Inc. reported preliminary quarterly revenue that trailed its earlier forecast.