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European stocks close:
European stocks declined for a second straight day as Greek talks on measures needed to get a second bailout continued and China said industrial-output growth is likely to slow.
Greek Prime Minister Lucas Papademos is convening the nation’s political leaders to seek consensus on the cuts required for another European Union-led bailout. Officials are working on the final draft of the document listing the budget and structural measures required to receive international funding, a government official said.
BMW, the world’s biggest maker of luxury cars, slid 2.7 percent to 68.82 euros, snapping a five-day advance, and Renault SA retreated 1.3 percent to 36.58 euros.
Rio Tinto, the world’s third-largest mining company, fell 2.3 percent to 3,854 pence and Eurasian Natural Resources Corp. dropped 3 percent to 700 pence.
Automakers and mining companies were the two worst performing group of 19 industries in the Stoxx 600 today.
Swatch declined 4.2 percent to 397.40 Swiss francs after reporting 2011 operating profit of 1.61 billion francs ($1.75 billion), missing the average projection in a survey of 1.67 billion francs.
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