European Markets Slip as Brussels Chops Euro-Zone Growth Outlook; Boss Cuts Forecast

European stock indices edge lower after the European Commission cut euro-zone growth forecasts but stopped short of stating that any of the 18 member countries face economic contraction next year. In the clothing and consumer goods sector Hugo Boss, of Germany, and France’s L’ Oreal deliver disappointing updates which underline the economic weakness of Western Europe. But in the chemicals sector Royal DSM cheers investors by suggesting it might shed lower margin businesses in an apparent nod to pressure from investors including Dan Loeb’s Third Point.