European Stocks Fall for a Fourth Day as Nestle Retreats
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European equities declined for a fourth day as the region’s two largest stocks retreated, outweighing reduced concern about the region’s most indebted lenders after Portugal bailed out Banco Espirito Santo SA.
Nestle SA and Novartis AG both dropped more than 1 percent. Immofinanz AG slid 2.7 percent after the Austrian property developer reported annual profit that missed projections and said a delay in the construction of a Moscow shopping center hurt rental income. Banco Comercial Portugues SA rallied 6.1 percent. HSBC Holdings Plc gained after reporting lower provisions for bad debt in the first half.