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

E.ON Shares Jump After German Utility Announces EU7 Billion Share Buyback

(Bloomberg) -- E.ON AG, Germany's biggest utility,
plans to build 18 new power plants in Europe as part of a 60
billion-euro ($81 billion) investment plan to satisfy growing
demand for electricity.

The new generators will increase capacity in five years by
13,500 megawatts, enough to supply about 27 million average
European homes, as the region's markets open to competition,
E.ON Chief Executive Officer Wulf Bernotat said today at a press
conference in Dusseldorf, where the company is based.


Read more at Bloomberg Stocks News