A slide in miners and banks trimmed the biggest weekly rally in European equities in two months. The Stoxx Europe 600 Index declined by 0.6 percent.
Commodity producers were down from a six-week high as Polymetal International Plc led the declines by a 8.1 percent drop. CaixaBank SA slipped by 2.8 percent after selling shares in order to fund its takeover of Banco BPI SA. H. Lundbeck A/S plummeted by 15 percent while Scout24 AG was down by 4.1 percent following the selling of shares by Blackstone Group LP of the German operator of classifieds businesses. Sports Direct International Plc jumped by 2.4 percent and Moleskin SpA surged by 13 percent after D’leteren SA announces that it made an offer to purchase the Italian lifestyle firm. U.K. homebuilders gained as both Bellway Plc and Persimmon Plc increased by over three percent.
The purchasing manager’s index (PMI) declined to almost a two-year low, which indicates that the economic upswing in the region is fragile.
The material has been provided by InstaForex Company – www.instaforex.com