European Stocks Fall a Second Day; BSkyB, BT Group Slide


14/06/2012 10:46 AST  Bloomberg

European stocks dropped for a second day as Moody’s Investors Service downgraded Spain and Cyprus, while investors awaited Italy’s first bond sale since the euro area offered to bail out Spain’s banks. U.S. index futures rose, while Asian shares fell.

British Sky Broadcasting Group Plc (BSY) and BT Group Plc (BT/A) declined 6.2 percent and 4 percent, respectively, after winning the bidding to show 154 English Premier League soccer matches starting in the 2013-14 season. Nokia Oyj (NOK1V) slumped 5.9 percent after reducing its outlook for the second quarter.

The Stoxx Europe 600 Index (SXXP) dropped 0.3 percent to 241.74 at 8:28 a.m. in London. Futures on the Standard & Poor’s 500 Index expiring in September rose 0.4 percent, while the MSCI Asia Pacific Index fell 0.5 percent.

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