Bloomberg News

European Stocks Extend Drop as Italy Auctions Bonds; Accor Falls

July 14, 2011

July 14 (Bloomberg) -- European stocks fell for the fourth day in five after Moody’s Investors Service said the American government may lose the Aaa credit rating it’s held since 1917. Asian shares dropped and U.S. index futures were little changed.

Petrofac Ltd., the U.K.-based oilfield services and engineering provider, declined 2.7 percent as Barclays Plc advised selling the shares. Accor SA slid 1 percent as rival Marriott International Inc. forecast earnings that fell below analysts’ estimates for its per-share profit.

The Stoxx Europe 600 Index sank 0.7 percent to 267.96 at 10:45 a.m. in London. Futures contracts on the Standard & Poor’s 500 Index expiring in September rose 0.2 percent to 1,316.8, while the MSCI Asia Pacific Index retreated 0.2 percent.

To contact the editor responsible for this story: Will Hadfield at whadfield@bloomberg.net


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