European Stocks Drop After ECB Raises Key Rate; E.ON and Iberdrola Fall

(Bloomberg) -- European stocks headed for the biggest
decline in more than two months after the European Central Bank
raised interest rates.

E.ON AG and Iberdrola SA led a decline by utilities, while
BNP Paribas SA and Spain's Banco Popular Espanol SA pushed
banking shares lower. Thales SA, Europe's largest defense-
electronics company, fell after Societe Generale SA downgraded
the stock.


Read more at Bloomberg Stocks News