German Stocks Decline After Draghi Comments, Growth Forecast Cut
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German stocks declined as European Central Bank President Mario Draghi said the debt crisis is hurting Europe’s largest economy and the European Commission cut its growth forecasts for the euro area, offsetting optimism about U.S. President Barack Obama’s re-election.
Infineon Technologies AG and Deutsche Bank AG led retreating shares. Hochtief AG climbed 3.1 percent after the builder swung to a profit in the third quarter and reiterated its full-year guidance.