German stocks dropped, erasing yesterday’s rebound, led by a selloff in Fresenius Medical Care AG, as investors awaited a report that may show U.S. factory orders increased in May.
When the late Robert Pritzker ran Marmon Group LLC, his family’s conglomerate, he gave the managers of its major units his phone number.
German stocks advanced the most in three weeks as a measure of consumer confidence in the U.S. increased more than forecast.
The U.S. House Ethics Committee said it opened an investigation into allegations that Representative Shelley Berkley of Nevada used her position to aid kidney dialysis clinics run by her husband’s medical practice.
Fresenius Medical Care AG fell the most in more than four years in Frankfurt after the U.S. government proposed cutting payments to kidney dialysis center operators by 9.4 percent next year.
German stocks declined, following a two-day advance, as Fresenius Medical Care AG plunged after forecasting profit that fell short of analysts’ estimates.
Affymax Inc. fell as much as 87 percent after the company and partner Takeda Pharmaceutical Co. voluntarily recalled an anemia treatment for kidney dialysis patients after reports of fatal reactions.
European stocks were little changed, paring earlier losses in the last hour of trading and closing at its highest level since January 2008.
Amgen Inc. ’s anemia treatment Aranesp is safe for use in kidney patients whose disease doesn’t require dialysis, a U.S. panel found.