European Stocks Retreat as Tension Escalates in Crimea
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European stocks declined for a second day as tension escalated in Crimea, following Ukraine’s change of government.
WPP Plc slid 3.5 percent and Allianz SE dropped 2.3 percent after posting profit that missed estimates. Royal Bank of Scotland Group Plc slumped 7.7 percent after the state-owned lender reported its biggest full-year loss since receiving a bailout in 2008. Man Group Plc rallied 14 percent after the world’s largest publicly traded hedge-fund firm announced a $115-million stock buyback.