European Stocks Close Little Changed as UniCredit Sinks on Monti
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European stocks closed little changed at an 18-month high as China’s industrial output and retail sales exceeded forecasts, offsetting concern a leadership change in Italy will disrupt efforts to reduce debt.
UniCredit SpA, Italy’s biggest bank, sank 5.2 percent, leading the benchmark FTSE MIB Index to the biggest drop in a month, as Prime Minister Mario Monti said he will resign. Royal Imtech NV fell 4.4 percent after a report that the technical-services company presented false accounts as evidence. STMicroelectronics NV climbed 4.2 percent after saying it will leave a joint venture with Ericsson AB.