European stocks declined as a report showed Chinese imports unexpectedly slumped last month, outweighing gains by personal- and household-goods companies after LVMH Moet Hennessy Louis Vuitton SA posted results.
The Stoxx Europe 600 Index fell 0.5% to 333.41 at the close of trading. The benchmark earlier rose as much as 0.6% after the minutes of the Federal Reserve’s last meeting eased concern about when interest rates will increase. European equities have fallen 1.7% from a six-year high on April 4 as investors sold the shares with the highest valuations.
National benchmark indexes declined in 14 of the 18 western-European markets today:
In China, the customs administration reported that imports slid 11% in March from a year earlier. The median economist estimate had called for a gain of 3.9%.
Personal- and household-goods companies posted the biggest gain of the 19 industry groups in the Stoxx 600
Tryg A/S lost 4% after reporting first-quarter net income that missed analysts’ estimates. LVMH added 3.2% as the world’s largest luxury-goods company posted the fastest growth in fashion and leather-goods sales in two years.
Iberdrola SA decreased 3.4%, leading a decline in utility companies. Bankia SA sold a 4.9% stake in Spain’s largest utility. Spain’s Red Electrica Corp. dropped 3.2% and Italy’s Enel SpA slipped 2.5%.
Royal Imtech NV tumbled 15%, its lowest price in 11 years. The technical-services provider said it would review all options to meet a debt-reduction target.
Vienna Insurance Group AG slid 5.8% as it restated its 2012 earnings following an audit of its BCR Life unit in Romania. Pretax profit fell 4.2% to 563.7 million euros, the insurer said in a statement.
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