Axa Shares Decline on Net Income Miss, Italian Takeover

Axa SA fell the most in almost four months after profit missed estimates and the French insurance group agreed to buy a majority in Italian car insurer Prima Assicurazioni.

The stock fell as much as 7%, the biggest intraday decline since April 7, after first-half net income declined 2.4% to €3.92 billion. That missed the €4.68 billion estimate by analysts in a Bloomberg poll.