European stocks declined as Italy’s inconclusive parliamentary election renewed concern that the Mediterranean nation will dilute its austerity program and Europe’s sovereign-debt crisis will deepen.
Italian shares led the retreat, with the FTSE MIB Index tumbling 4.9 per cent. Telecom Italia slumped to a 15-year low as contracts to protect against a default by the country’s biggest phone company surged.
In Dublin, the Iseq index bucked the trend and was...
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