Most European stocks dropped, following the Stoxx Europe 600 Index’s largest decline in a month yesterday, as travel-and-leisure companies slid after TUI AG reported a wider loss and auto-related shares slipped.
The Stoxx 600 added less than 0.1% to 338.77as more than three stocks retreated for every two that advanced. The benchmark has added less than 0.1% this week. It rose to a six-year high on May 13 as mergers-and-acquisitions activity increased and European Central Bank President Mario Draghi said officials are ready to ease monetary policy at their June meeting if necessary.
National benchmark indexes retreated in 11 of the 17 western-European markets that opened today:
TUI AG fell 2.8% after the tour operator’s loss before interest, taxes and amortization widened.
Renault SA and Daimler AG each retreated more than 1 percent as a report showed European car sales slowed.
Banco Espirito Santo SA decreased 5.5% as it announced a capital increase.
Bouygues SA (EN) climbed 4.4% after a report that Orange SA has studied buying Bouygues Telecom.
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