Most European stocks dropped, following the Stoxx Europe 600 Index’s largest decline in a month yesterday, as travel-and-leisure companies slid after TUI AG reported a wider loss and auto-related shares slipped.
European stocks advanced as companies from AstraZeneca Plc to Bayer AG rose amid an increase in mergers-and-acquisitions activity, offsetting new U.S. sanctions against Russian individuals and companies.
U.S. stocks rose, with the Standard & Poor’s 500 Index erasing an earlier slide as a selloff in Internet and smaller companies abated amid optimism over deal activity. Treasuries declined for the first time in a week before Federal Reserve policy makers meet tomorrow.
German dealmaking this year may go down as one of the worst in the past decade after regulatory opposition killed Deutsche Telekom AG’s sale of T-Mobile USA and threatened Deutsche Boerse AG’s takeover of NYSE Euronext.
German stocks declined the most in more than a week after Portugal’s government lost the leader of its junior coalition partner, reviving concern that the country will cease its attempts to cut spending.