European Aeronautic, Defence & Space Co., Europe’s biggest aerospace and defense company, and Safran SA used currency hedges to lock in lower exchange rates for the next four years after the euro weakened, filings show.
European stocks fell to a three- week low, led by a selloff in banks, as the leader of Italy’s Democratic Party ruled out the possibility that rival politicians will agree on a broad coalition government.
Treasuries rallied and the euro weakened to a four-month low against the dollar, while Italian and Spanish bonds slumped, as concern about Europe’s debt crisis deepened. Most U.S. stocks fell, even as the Standard & Poor’s 500 Index pared a drop of as much as 0.8 percent.
Rolls-Royce Holdings Plc, the world’s second-largest maker of commercial aircraft engines, predicted rising profit for this year, extending its streak of annual gains into a second decade as airliner demand booms.
Almost 400 General Electric Co. aircraft engines must be inspected more frequently for cracks to prevent failures, federal aviation regulators told U.S. airlines following “urgent” recommendations by a safety board.