European Stocks Drop for a Second Day on Draghi Comments
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European stocks retreated, posting the biggest two-day slump in more than four months, as European Central Bank President Mario Draghi said that the economic recovery in the euro area remains subject to downside risks.
Banca Generali SpA lost 5.1 percent after Assicurazioni Generali SpA sold part of its stake in the lender. European Aeronautic, Defence & Space Co. dropped 2.7 percent as an investor offered to sell shares worth 384 million euros ($494 million) in the owner of Airbus SAS. BTG Plc gained 1 percent after increasing its sales forecast for 2013.