European stocks close

European stocks fell from a two- month high as Chinese exports slowed and the European Central Bank warned imposing further losses on holders of Greek debt posed a risk to the euro area’s financial stability. European banks extended losses as the European Central Bank said financial institutions’ involvement in euro-area bailouts through enforced investor losses posed a risk to financial stability and would have “direct negative effects” on lenders. China’s export growth slowed to its weakest pace in seven months. Officials said that trade faces “severe challenges” as the yuan strengthens and confidence slides in developed nations. Exports climbed a less-than-forecast 17.1 percent in September from a year earlier, customs bureau data showed in Beijing today. The trade surplus of the world’s second-largest economy fell to $14.51 billion last month from $17.76 billion in August. Imports rose 20.9 percent, also less than forecast.

FTSE 100 5,403 -38.42 -0.71%, CAC 40  3,187 -42.82 -1.33%, DAX 5,915 -79.63 -1.33%

National benchmark indexes fell in 16 of the 18 western- European markets. The U.K.’s FTSE 100 Index slid 0.7 percent. France’s CAC 40 Index and Germany’s DAX Index both slipped 1.3 percent.

Austria’s Raiffeisen Bank International AG dropped 3.2 percent to 22.50 euros and Commerzbank AG, Germany’s second- biggest lender, slipped 4.8 percent to 1.76 euros. UniCredit SpA plunged 12 percent to 92.7 euro cents, its largest slide since March 2009.

Carrefour SA retreated 5.9 percent after saying its profit may drop as much as 20 percent this year. Roche Holding AG slid 4.5 percent after posting third-quarter revenue that missed analysts’ estimates. Alcatel-Lucent surged 5.3 percent on a report France’s biggest telecommunications equipment maker will sell its corporate call-center business.

Rolls-Royce Group Plc jumped 9.9 percent to 688 pence after the jet-engine maker agreed to sell its share in a venture making engines for the Airbus A320 aircraft. Rolls-Royce sold its 32.5 percent stake in International Aero Engines to Pratt & Whitney for $1.5 billion and payments for 15 years.