Delhaize Group, the owner of the U.S. Food Lion stores, fell the most in 22 months in Brussels on concern margins will shrink further because of price cuts and maintaining U.S. sales momentum will require more spending.
Natural gas and oil led a gauge of commodities to a five-month high as a winter storm in the U.S. Northeast boosted fuel demand and coffee surged amid a drought in Brazil. The Standard & Poor’s 500 Index rose a third day.
Delhaize Group SA, the owner of the U.S. Food Lion stores, rose the most in almost 3 1/2 years after price cuts lured back shoppers, driving revenue growth in more than a third of the Food Lion network.
European stocks were little changed, after two days of gains, as a measure of German investor confidence fell more than forecast and the Federal Reserve Bank of New York’s general economic index missed estimates.
U.S. stocks slumped, with the Dow Jones Industrial Average sliding to the lowest close in a month, while Treasuries rose after a gauge signaled contraction in Chinese manufacturing. Emerging-markets equities slipped and the dollar retreated while gold and natural gas climbed.
Delhaize Group, the owner of the Food Lion supermarkets, rose to a two-year high in Brussels trading after second-quarter earnings showed that cost savings and better supplier terms are outweighing price cuts in the U.S.