European Stocks Retreat Before U.S. Retail-Sales Report European stocks declined, paring the Stoxx Europe 600 Index’s second weekly gain, as investors awaited a report on U.S. retail sales, while America and Russia held talks on Syria. U.S. index futures were little changed, while Asian shares also retreated. TDC A/S fell 2.9 percent as a shareholder offered a stake of 11 percent in Denmark’s biggest phone company. Fresenius SE rose 4.1 percent after the health-care company’s Helios unit agreed to buy 43 hospitals from Rhoen-Klinikum AG. (RHK) Carlsberg A/S climbed 1.6 percent after forecasting sustained organic sales growth in China for the rest of the year. The Stoxx 600 dropped 0.3 percent to 309.83 at 9:24 a.m. in London, paring its advance this week to 1.2 percent. Standard & Poor’s 500 Index futures expiring in December declined 0.2 percent today, while the MSCI Asia Pacific Index retreated 0.6 percent, halting an 11-day rally. “The Syria debate is likely to simmer away with attention being focused toward U.S. retail sales,” William Nicholls, a trader at Capital Spreads in London, wrote in an e-mail. “The bulls will be hoping for a strong end to a good week.” Read more: Bloomberg News
Posted on: Fri, 13 Sep 2013 09:24:17 +0000
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