Pursuits
European Stocks Decline for Second Day; Akzo Nobel Falls
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European stocks declined the most in two weeks as investors bet that the rally in the Stoxx Europe 600 Index to a 15-month high overshot the economic outlook and prospects for corporate earnings.
Akzo Nobel NV, the world’s largest paintmaker, tumbled the most in one year after saying Chief Executive Officer Ton Beuchner will go on sick leave. Aviva Plc slid 4 percent after analysts downgraded the stock. PSA Peugeot Citroen and Fiat SpA led a gauge of European automakers lower after a report showed car sales slumped in August. Diageo Plc gained 2.1 percent after Morgan Stanley recommended the shares.