European stocks fell to a two-month low as investors weighed U.S. retail-sales and jobless-claims data to gauge whether the Federal Reserve will decide next week to pare stimulus.
The Stoxx Europe 600 Index dropped 1% to 310.31, for its lowest level since Oct. 10. The benchmark gauge has retreated for three days as U.S. economic data fueled speculation the Fed could slow the pace of additional stimulus sooner than forecast.
The U.S. central bank may consider reducing its $85 billion of monthly bond purchases at its Dec. 17-18 meeting, according to 34 percent of economists surveyed Dec. 6 by Bloomberg, up from 17% in a Nov. 8 poll.
A U.S. Commerce Department report in Washington showed retail sales in the world’s largest economy rose 0.7% in November, the biggest gain since June vs estimated increase of 0.6%. Separate data showed initial jobless claims increased to 368,000 in the week ended Dec. 7 from a revised 300,000 in the previous week. Economists had predicted a gain to 320,000.
Euro-area industrial production shrank 1.1% in October, according to a report from the European Union’s statistics office in Luxembourg. The median estimate survey predicted an expansion of 0.3%.
John Wood Group Plc plunged the most since July 2011 after saying 2014 earnings before interest, taxes and amortization at its engineering unit may drop by about 15%.
PSA Peugeot Citroen tumbled 7.9% after disclosing a charge of about 1.1 billion euros ($1.5 billion) in its auto operations and cutting its savings estimate from a partnership with General Motors Co.
Ziggo NV surged to a record after Liberty Global Plc revived talks to acquire the company.
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