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Jan. 27 (Bloomberg) -- European stocks dropped as lower metals prices damped the earnings outlook for mining companies and a wider-than-estimated loss from DuPont Co. dragged down chemical makers.
BHP Billiton Ltd. and Rio Tinto Group fell more than 3 percent as copper slid from an eight-week high in London. BASF SE and DuPont declined at least 2 percent. British Land Co. Plc, the largest office landlord in London, sank 4.3 percent after Goldman Sachs Group Inc. advised clients to sell the stock. Siemens AG climbed 3.2 percent on better-than-estimated earnings.
The Dow Jones Stoxx 600 Index slipped 1.78, or 1 percent, to 186.28 at 11:27 a.m. in London, paring yesterday’s 3.1 percent gain. The gauge has slumped 49 percent since the beginning of last year as financial firms racked up more than $1 trillion in credit losses and writedowns and the U.S., Japan and Europe entered the first simultaneous recessions since World War II.
“We have to remain very cautious,â€
