Europe: Stocks decline
LONDON: European stocks dipped at midday yesterday, halting a week-long rally, as investors looked beyond Washington's last-minute deal to avert a debt default to focus on corporate news.
Shares in KPN were among the biggest losers in Europe, sinking nine per cent after America Movil dropped a plan to raise its stake in the company.
The news dampened consolidation hopes for the sector and knocked shares lower, with Orange down 2.3 per cent and Deutsche Telekom down two per cent.
In Europe, the British FTSE 100 index was down 0.2 per cent at 6,560 while Germany's DAX fell 0.6 per cent to 8,795. The CAC-40 in France was 0.5 per cent lower at 4,222. Agencies