European Stocks Retreat From Multi-Year Highs

European stock markets pulled back from multi-year highs on Tuesday, ahead of the U.S. Federal Reserve kicking of its two-day policy meeting, at which the central bank could decide to scale back its stimulus program. The Stoxx Europe 600 index fell 0.4% to 312.22 after closing at the highest level since June 2008.

Shares of Lloyds Banking Group PLC fell 2.2% after the U.K. government placed a 6% stake in the bank. Glencore Xstrata PLC dropped 1.7% after UBS cut the commodity giant to neutral from buy. Among country-specific index, the U.K.’s FTSE 100 index lost 0.3% to 6,600.49, while Germany’s DAX 30 index fell 0.2% to 8,592.25. France’s CAC 40 index gave up 0.3% to 4,138.05.

Source : Marketwatch

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