European Stocks Fall as S&P Sees Further Greek Restructuring

European stocks declined the most in more than three weeks as Standard & Poor’s said Greece may have to restructure its debt again and more Americans than forecast filed claims for jobless benefits.

Hennes & Mauritz AB, Europe’s second-largest clothing retailer, dropped the most in six months as earnings missed estimates. Banca Monte dei Paschi di Siena SpA, Italy’s third-biggest bank, tumbled 11 percent after posting a record loss. FirstGroup Plc, Britain’s biggest train operator, sank 14 percent amid “challenging trading conditions” at its bus unit.