European Stocks Fall as Investors Consider U.S. Budget
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European stocks fell for a second day as investors weighed an accord between U.S. lawmakers to limit automatic spending reductions and avoid another government shutdown, as well as a possible cut in Federal Reserve stimulus.
Royal Bank of Scotland Group Plc lost 2.9 percent as Nathan Bostock said he will quit as chief financial officer. Mediolanum SpA slipped 6.9 percent as its largest investor sold a stake. European Aeronautic, Defence & Space Co. surged the most in a year after reiterating plans to increase dividend payments. BAE Systems Plc added 2.6 percent as the U.S. budget deal provided $31.5 billion of relief from forced military spending cuts.