European Stocks Fall as Lagarde Warning Offsets U.S. Data
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European stocks declined for the fourth time in five days as International Monetary Fund Managing Director Christine Lagarde said global growth is not fast enough to curb unemployment, and Chinese new lending missed estimates, outweighing better-than-expected U.S. consumer confidence data.
Akzo Nobel NV slid 6.1 percent as Chief Executive Officer Ton Buechner extended his leave from the company. MAN SE fell 3.3 percent after it said 2013 will be tougher than this year. Standard Chartered Plc and Axa SA climbed as Deutsche Bank AG raised its rating for the banking and insurance sectors.