European Stocks Retreat as Orange, STMicro Sales Decline
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European stocks declined, following the longest rally for the region’s equities in 40 months, as companies from Orange SA to STMicroelectronics NV reported lower quarterly sales.
Orange retreated the most in more than two years as France’s largest telecommunications company also posted earnings that dropped in the third quarter. STMicroelectronics slid the most in three months after Europe’s biggest semiconductor maker also reported a $142 million quarterly net loss.