European Stocks Fall as Siemens Disappoints, Greek Banks Slide

European stocks declined from a seven-year high, snapping their longest winning streak since April, as Siemens AG and Royal Philips NV posted disappointing earnings, and Greek stocks tumbled.

Siemens slid 3 percent, contributing the most to a drop in a gauge of industrial companies, after Europe’s largest engineering firm reported a decline in first-quarter profit. Philips lost 5.9 percent after saying it is behind on its 2016 financial targets. Greek banks dragged a gauge of lenders down.