European and Asian stocks fail to lift themselves out of a temporary morass as disappointing manufacturing data from China eclipsed better-than-expected euro-zone factory news. Meanwhile Chinese computer maker Lenovo Group Ltd. strikes a cheaper-than-expected $2.3 billion deal to buy the low-cost server business of IBM . If the deal closes it will allow the seller to focus on more profitable lines and will set a record for a Chinese IT-related acquisition, but it will likely face tough regulatory scrutiny in Washington.

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