European stocks dropped for the first time in three days as investors awaited data on U.S. durable-good orders. The Stoxx Europe 600 Index lost 0.3% as markets in London were closed for a holiday.
“On the one hand you want to see an improvement in the economy but if does improve too much, tapering is back on the agenda,” experts said. “This is a dilemma for the markets. The best scenario is moderate growth. Durable goods numbers can be volatile and fluctuate a lot.”
UniCredit SpA led banks lower, retreating 2.7%.
Royal KPN NV advanced 2.9% after winning the support of minority shareholder America Movil SAB for the sale of its German business to Telefonica Deutschland Holding AG.
Telefonica Deutschland rallied 3.9%.
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