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European Stocks Decline, Trimming Seventh Weekly Gain

European stocks dropped, paring their seventh successive weekly advance, as the yield premium for Spanish benchmark bonds over German bunds surged to a record, sparking concern the euro-area debt crisis is deepening.

Vodafone Group Plc lost 1.7 percent after posting quarterly service sales that trailed forecasts. Nokia Oyj tumbled 7.4 percent after Fitch Ratings downgraded the company’s debt. Scania AB, the Swedish truckmaker controlled by Volkswagen AG, rallied 3.9 percent.