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European Stocks Little Changed as GlaxoSmithKline Falls

European stocks were little changed, closing near their highest level since January 2008, as GlaxoSmithKline Plc retreated after becoming the subject of a criminal investigation.

Glaxo dropped 1.6 percent after revealing that the U.K.’s Serious Fraud Office has started a probe into the drugmaker’s conduct. Elekta AB slid the most in three months as quarterly profit missed estimates. Osram Licht AG slumped 6.5 percent after cutting its sales forecast for the year ending in September. Smith & Nephew Plc rose 4.3 percent amid speculation that Stryker Corp. may bid for the medical-device maker.