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European stocks fell
European stocks fell for a fourth day as Japanese machinery orders tumbled the most in seven years and the yield on Spain’s 10-year bonds climbed to 7 percent. U.S. index futures and Asian shares retreated.
Japanese machinery orders, an indicator of capital spending, fell 14.8 percent in May from the previous month, the Cabinet Office said, the biggest drop since at least 2005. Economists expected a 2.6 percent decline.
Meanwhile, German exports rebounded more than economists forecast in May, helping Europe’s largest economy to weather the sovereign debt crisis. Exports, adjusted for work days and seasonal changes, jumped 3.9 percent from April, when they fell 1.7 percent, the Federal Statistics Office in Wiesbaden said today.
FTSE 100 5,642.67 -19.96 -0.35%CAC 40 3,157.26 -11.53 -0.36%
DAX 6,402.32 -7.79 -0.12%
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