EUROPE

Most stocks fell yesterday after German exports dropped and investors speculated recent gains have overshot the outlook for company profits as Alcoa prepared to kick off the US earnings season.

Debenhams slid the most in more than three years after the retailer cut its profit margin forecast. Vodafone Group added 1.7 percent as the Wall Street Journal reported that Verizon Communications said it was feasible it would buy the UK firm’s stake in their Verizon Wireless joint venture. TGS Nopec Geophysical rallied 7 percent as the Norwegian offshore surveyor forecast revenue that exceeded estimates.

The Stoxx Europe 600 index slipped 0.1 percent to 286.25 at the close of trading, as three shares fell for every two that gained.

“We have to realise that economic data coming out of the euro zone is going to be very poor,” Credit Suisse Asset Management senior adviser Bob Parker said.

“I would want to diversify in equities across the euro zone.” – Bloomberg