Aug. 1 (Bloomberg) -- European stocks pared their gains as shares in Spain and Italy retreated.
The Stoxx Europe 600 Index lost 0.2 percent to 264.65 at 2:51 p.m. in London, having earlier climbed 1.2 percent. The measure dropped 2.5 percent last week as Republicans and Democrats failed to agree on a deal to raise the U.S. debt ceiling before tomorrow’s deadline. The gauge has tumbled 8.8 percent from this year’s high in February.
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