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Nov. 26, 2013, 12:11 p.m. EST

Europe stocks fall after mixed U.S. data; Algeta soars

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By Sara Sjolin, MarketWatch

LONDON (MarketWatch) — European stock markets fell on Tuesday, after U.S. data painted a mixed picture of the recovery in the world’s largest economy.

The Stoxx Europe 600 index /zigman2/quotes/210599654/delayed XX:SXXP -0.24%  dropped 0.6% to close at 322.24, erasing a 0.4% gain from Monday.

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Among major movers, shares of Rémy Cointreau SA /zigman2/quotes/206802273/delayed FR:RCO -0.17%  slid 8.3% after the spirits maker warned that slower sales in China will hit profits considerably this year. The French firm also reported a 20% drop in net profit in the first six months of its financial year.

Peer firms Pernod Ricard SA /zigman2/quotes/204974112/delayed FR:RI +0.19%  and Diageo PLC /zigman2/quotes/205611832/delayed UK:DGE +0.34%   /zigman2/quotes/208129584/composite DEO +4.11% dropped 2.6% and 1.6% respectively.

On a more upbeat note, shares of De La Rue PLC /zigman2/quotes/206574260/delayed UK:DLAR +0.55%  rallied 9.4% after the currency printer reported a 19% rise in first-half pretax profit.

Outside the main benchmark index, shares of Algeta ASA  surged 30.5% after the Norwegian pharma-research firm said it has received a takeover offer from Bayer AG /zigman2/quotes/210533053/delayed DE:BAYN +0.80% . Bayer shares slipped 0.3%.

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U.S. data

Tuesday’s broader market moves came after European stock markets were boosted Monday by a short-term deal to curb Iran’s nuclear program. The agreement added pressure on oil prices, which sent oil-sensitive sectors such as airlines rallying.

“This for many in the market was seen as potentially acting as a long-term catalyst to place a cap on rising oil prices, together with a reduction of geopolitical tensions in the Middle East,” Ishaq Siddiqi, market strategist at ETX Capital, said in a note.

“In the immediate picture, markets are still fixated with the prospects of tapering by the Fed — will we see the Fed kick off the process next month? Or will we see it at some point during the [first quarter] of next year, or even Q2? Much depends on economic indicators out of the U.S.,” he added.

In that vein, data out of the U.S. on Tuesday showed consumer confidence unexpectedly dropped in November, as Americans grew somewhat more worried about future employment and income prospects.

Meanwhile, new building permits climbed 6.2% in October to the highest level in more than five years, while U.S. home prices rose 0.7% in September, although that was the smallest monthly gain since February.

That came a day after data showed the pace of pending U.S. home sales fell in October for the fifth straight month, reflecting higher mortgage rates, a low number of properties for sale, and effects from the government shutdown.

U.S. stocks traded higher on Wall Street.

Europe movers

Back in Europe, France’s CAC 40 index /zigman2/quotes/210597958/delayed FR:PX1 -0.40%  slipped 0.6% to 4,277.57, while the U.K.’s FTSE 100 index /zigman2/quotes/210598409/delayed UK:UKX -0.02%  gave up 0.9% to 6,636.22. Germany’s DAX 30 index /zigman2/quotes/210597999/delayed DX:DAX -0.66%  slipped 0.1% to 9,290.07.

Banca Monte dei Paschi di Siena SpA /zigman2/quotes/202470451/delayed IT:BMPS +0.14%  sank 5.9% after the Italian bank approved a capital increase of up to 3 billion euros ($4.1 billion).

Luxottica Group SpA  gave up 0.8% after Berenberg cut the firm to hold from buy.

Britvic PLC /zigman2/quotes/208055220/delayed UK:BVIC -0.06%  gained 2.8% after the U.K. soft-drinks maker reported a 28.1% increase in full-year pretax profit.

Shares of Repsol SA /zigman2/quotes/202941606/delayed ES:REP -0.84%   /zigman2/quotes/209521532/delayed REPYY +2.06%  climbed 4.3% after Spanish, Argentine and Mexican government officials late Monday reached an agreement to compensate the Spanish oil company for its controlling stake in YPF S.A. /zigman2/quotes/201114166/composite YPF +5.20% , which the Argentine government expropriated last year.

/zigman2/quotes/210599654/delayed
XX : STOXX
432.45
-1.03 -0.24%
Volume: 0.00
May 16, 2022 1:48p
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/zigman2/quotes/206802273/delayed
FR : France: Euronext Paris
174.70
-0.30 -0.17%
Volume: 10,799
May 16, 2022 1:47p
P/E Ratio
42.57
Dividend Yield
1.06%
Market Cap
€8.76 billion
Rev. per Employee
€716,648
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/zigman2/quotes/204974112/delayed
FR : France: Euronext Paris
188.70
+0.35 +0.19%
Volume: 61,057
May 16, 2022 1:48p
P/E Ratio
28.48
Dividend Yield
1.65%
Market Cap
€49.14 billion
Rev. per Employee
€535,234
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/zigman2/quotes/205611832/delayed
UK : U.K.: London
3,836.50 p
+13.00 +0.34%
Volume: 531,214
May 16, 2022 12:48p
P/E Ratio
29.51
Dividend Yield
1.93%
Market Cap
£87.62 billion
Rev. per Employee
£497,283
loading...
/zigman2/quotes/208129584/composite
US : U.S.: NYSE
$ 189.81
+7.49 +4.11%
Volume: 422,083
May 13, 2022 4:00p
P/E Ratio
26.61
Dividend Yield
2.08%
Market Cap
$107.08 billion
Rev. per Employee
$683,116
loading...
/zigman2/quotes/206574260/delayed
UK : U.K.: London
110.20 p
+0.60 +0.55%
Volume: 26,335
May 16, 2022 11:58a
P/E Ratio
15.18
Dividend Yield
0.00%
Market Cap
£213.89 million
Rev. per Employee
£177,267
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/zigman2/quotes/210533053/delayed
DE : Germany: Frankfurt
61.93
+0.49 +0.80%
Volume: 2,906
May 16, 2022 1:40p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
€338,348
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/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
6,337.03
-25.65 -0.40%
Volume: 22,106
May 16, 2022 1:48p
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,416.82
-1.33 -0.02%
Volume: 199,739
May 16, 2022 12:48p
loading...
/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
13,935.73
-92.20 -0.66%
Volume: 25,329
May 16, 2022 1:48p
loading...
/zigman2/quotes/202470451/delayed
IT : Italy: Milan
0.70
+0.0010 +0.14%
Volume: 498,942
May 16, 2022 1:43p
P/E Ratio
2.24
Dividend Yield
N/A
Market Cap
€704.69 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/208055220/delayed
UK : U.K.: London
853.00 p
-0.50 -0.06%
Volume: 37,964
May 16, 2022 12:32p
P/E Ratio
22.10
Dividend Yield
2.84%
Market Cap
£2.28 billion
Rev. per Employee
£333,753
loading...
/zigman2/quotes/202941606/delayed
ES : Spain: Madrid
14.14
-0.12 -0.84%
Volume: 1.34M
May 16, 2022 1:48p
P/E Ratio
6.44
Dividend Yield
1.89%
Market Cap
€21.25 billion
Rev. per Employee
€2.39M
loading...
/zigman2/quotes/209521532/delayed
US : U.S.: OTC
$ 14.88
+0.30 +2.06%
Volume: 81,174
May 13, 2022 4:00p
P/E Ratio
5.88
Dividend Yield
3.64%
Market Cap
$22.09 billion
Rev. per Employee
$2.76M
loading...
/zigman2/quotes/201114166/composite
US : U.S.: NYSE
$ 4.25
+0.21 +5.20%
Volume: 1.49M
May 13, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$3.04 billion
Rev. per Employee
N/A
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Sara Sjolin is a MarketWatch reporter based in London. Follow her on Twitter @sarasjolin.

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