Economics
Most European Stocks Drop on Yellen’s Remarks on Interest Rates
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Most European stocks declined as investors weighed Federal Reserve Chair Janet Yellen’s remark that benchmark interest rates could rise about six months after the central bank ends bond purchases.
GlaxoSmithKline Plc lost 1.6 percent after saying its experimental lung-cancer drug failed to meet its objectives in a clinical study. Rheinmetall AG fell the most in four months after a report that Germany stopped the defense company from executing a deal in Russia because of the Ukraine crisis. Munich Re rose 1.4 percent after announcing a share buyback.