European Stocks Drop for a Second Day as Carmakers Slide
This article is for subscribers only.
European stocks retreated for a second day as carmakers dropped, outweighing gains by companies from LVMH Moet Hennessy Louis Vuitton SA to Kering SA that reported faster quarterly sales growth.
Daimler AG slid 2.3 percent, leading carmakers lower. ThyssenKrupp AG dropped 2.9 percent amid concern it has failed to make progress in talks to sell its plants in the Americas. LVMH, which owns Louis Vuitton and Christian Dior, rallied 3.6 percent. Kering, the owner of Gucci, advanced 3.9 percent.