Friday, January 31, 2014

European Stocks Drop, Head for Worst January Since 2010

January 31, 2014
European Stock Exchange
European stocks fell, heading for the worst start to the year since 2010, as companies from Electrolux AB to Vedanta Resources Plc dropped after reporting their results.
Electrolux slid 8.9 percent after posting earnings that missed analysts’ estimates. Vedanta Resources Plc lost 4.7 percent after saying copper output in Zambia declined. LVMH Moet Hennessy Louis Vuitton SA jumped 7.1 percent after reporting growth in fashion and leather-goods sales rebounded in the fourth quarter.
The Stoxx Europe 600 Index slipped 0.9 percent to 320.45 at 3:16 p.m. in London. The equities measure has declined 2.4 percent this month as emerging-market currencies tumbled, a Chinese manufacturing gauge contracted and the Federal Reserve slowed its pace of bond buying. The index has fallen 1.3 percent this week.

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