Most European Stocks Fall as ECB Lowers Benchmark Interest Rate
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Most stocks in Europe fell as an unexpected European Central Bank interest rate cut pointed to prolonged weak growth in the region and stronger U.S. economic data fueled speculation the Federal Reserve may reduce the pace of its bond buying in the coming meetings.
HeidelbergCement AG dropped 3.8 percent after saying third-quarter profit fell 7 percent. Bureau Veritas SA lost 3.6 percent as quarterly sales missed analysts’ estimates. Siemens AG rose 3.4 percent after reporting better-than-forecast profit and saying it plans to buy back shares. Swiss Re Ltd. climbed