Pursuits
European Stocks Retreat as German Business Confidence Declines
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European stocks fell for a second day as German business confidence declined to its lowest level in more than two years.
Volkswagen AG slid 2.1 percent, Bayerische Motoren Werke AG slipped 1.9 percent and Porsche Automobil Holding SE lost 1.5 percent as Handelsblatt newspaper reported rebates on new cars rose in June. Michael Page International Plc, Solvay SA and Royal Vopak NV dropped after analysts downgraded the stocks. Bankia SA led gains among Spanish lenders.