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European stocks closed
European stocks declined, after yesterday rallying the most in more than three weeks, as companies from Alstom SA to Erste Group Bank AG sold shares. European stocks yesterday rallied the most since Sept. 6 after stress tests bolstered confidence in Spain’s banking system and a report showed U.S. manufacturing unexpectedly expanded last month. The Stoxx 600 fell 2.7 percent last week amid concern the U.S. Federal Reserve’s bond-buying program will fail to encourage growth.
Alstom sank 4.9 percent after selling a 350 million-euro ($453 million) holding.
Erste Group slipped 2.8 percent after the lender’s largest shareholder sold a 235 million-euro stake.
PostNL NV added 4.4 percent after the postal company said it will increase rates next year.
FTSE 100 5,808.97 -11.48 -0.20%, CAC 40 3,417.92 -17.06 -0.50%, DAX 7,312.7 -14.03 -0.19%
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