Europe Stocks Decline After Stoxx 600 Hits Five-Year High
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European stocks retreated after six consecutive days of gains that sent the Stoxx Europe 600 Index to its highest level in more than five years.
Swatch Group AG, the world’s largest watchmaker, lost 0.8 percent after a fire caused damage at one of its workshops. International Personal Finance Plc rallied 10 percent after Numis Securities Ltd. recommended buying the stock following a 26 percent drop in the past two days. Vedanta Resources Plc increased 4 percent after its Sesa Sterlite Ltd. won approval to restart its iron-ore mines in Karnataka, India.