World Bank Rethink, Commodity Losses Rattle European Markets; Resource Groups plunge

European stock indices decline, led by resources companies and FTSE 100, after the World Bank cut its global growth forecast for this year and next. Predicting growth of 3%, instead of the 3.4% it forecast in June, it cited weak global trade among the risks. Losses among resources companies including Glencore and Antofagasta, steelmakers including ArcelorMittal and oil groups like BP suppress enthusiasm generated by a EU court development seen likely to facilitate the ECB’s expected launch of a program of government bond buying. Meanwhile, in London, Christmas trading updates in the consumer sector continue, weighing on drinks group C&C but lifting clothing retailer SuperGroup.