European stocks declined, erasing their earlier advance, as automakers, technology companies and banks retreated.
The benchmark Stoxx Europe 600 Index slipped 0.3 percent to 236.69 at 11:43 a.m. in London, having earlier climbed as much as 0.7 percent.
The Stoxx 600 jumped 3.7 percent on Aug. 12, trimming last week’s decline to 0.6 percent, after France Spain, Italy and Belgium imposed short-selling bans to stabilize markets. Even so, a 19 percent decline from this year’s high on Feb. 17 has left the gauge trading at 9.7 times the estimated earnings of its companies, near the cheapest since March 2009, according to weekly data compiled by Bloomberg.
No comments:
Post a Comment