European stocks decline from six year high

European stocks dropped from a six-year high on concern about Chinese growth and as companies from Vivendi to Fresenius Medical Care posted disappointing results.

US stock-index futures were little changed, while Asian shares rose.

Vivendi, the French company preparing to spin off its phone business SFR, slipped 4.7 per cent after posting fourth-quarter revenue that missed analysts’ estimates.

Fresenius Medical Care slumped 6.9 per cent after the world’s biggest provider of kidney dialysis forecast a decline in 2014 profit.

Parent company Fresenius slid 8.4 per cent to €109. Aixtron declined 6.8 per cent to €11.60. The German maker of equipment for semiconductors reported fourth-quarter sales of €51.1 million, missing the €53.4 million analysts had projected.

The Stoxx Europe 600 Index lost 0.3 per cent to 337.35 at 10.40am in London. The MSCI Asia Pacific Index gained 0.6 percent today.

Japan's Nikkei bolted ahead by 1.4 per cent to breach the 15,000 barrier, which in turn gave the dollar a slight lift on the yen to 102.56 yen.

“China remains a problem child for market participants,” said Witold Bahrke, who helps oversee $55 billion as a senior strategist at PFA Asset Management in Copenhagen.

“Stocks are left vulnerable for pullbacks. Risk is more biased to the downside now as we are approaching new highs.”

Bloomberg