European stocks fell from a five-year high as the European Commission cut its growth forecast for the euro area and Bayerische Motoren Werke AG retreated after reporting results.

The Stoxx Europe 600 Index fell 0.3 percent to 321.67 at 4:33 p.m. in London. The benchmark gauge has still soared 15 percent in 2013 as the Federal Reserve maintained stimulus measures and the European Central Bank cut interest rates to a record low. The ECB will make its next announcement on monetary policy on Nov. 7.

The executive arm of the European Union trimmed its forecast for euro-area growth next year as the economy struggles to gain momentum with the debt crisis dragging into a fifth year and unemployment at a record. Gross domestic product in the 17-nation currency bloc will rise by 1.1 percent in 2014, less than the 1.2 percent forecast in May.

The commission forecast that France’s budget deficit will be 3.7 percent of GDP in 2015, which would mean it misses a deadline to reduce the shortfall to 3 percent by then.

A U.S. government release on Thursday is forecast to show the world’s largest economy grew at a 2 percent annualized rate in the third quarter, compared with a 2.5 percent increase in the previous three months. Economists predict a report the next day will show U.S. payrolls climbed by 120,000 in October, according to a separate survey.

National benchmark indexes fell in all of the 18 western European markets, except Portugal and Ireland.

FTSE 100 6,746.84 -16.78 -0.25% CAC 40 4,253.34 -35.25 -0.82% DAX 9,009.11 -28.12 -0.31%

BMW slid 2.7 percent to 81.38 euros, its biggest drop since Aug. 27. The automaker reported a 3.7 percent decline in third-quarter earnings before interest and taxes as spending on expansion offset stronger demand for the 3-Series sedan.

RSA plunged 6.5 percent to 120.7 pence, the largest slide in eight months, after saying wind damage in Europe and adverse weather in Canada will push return on equity below 10 percent for the year. That compares with a previous target range in August of 10 percent to 12 percent.

Bouygues declined 2.7 percent to 28.35 euros, the largest retreat in two months. Orange said it has no plans to change its pricing structure.

Beiersdorf climbed 5.6 percent to 73.62 euros after saying sales will rise 6 percent to 7 percent this year. The Hamburg-based company had previously forecast revenue would increase 5 percent to 6 percent.

Marks & Spencer Group Plc (MKS), the U.K.’s largest clothing retailer, advanced 4.3 percent to 508 pence after reporting the smallest decline in general-merchandise sales in more than two years. Sales at stores open at least a year fell 1.3 percent in the quarter ended Sept. 28, M&S said. That beat the median estimate of 17 analysts for a 1.5 percent drop.

U.S. stock-index futures declined as investors awaited a report on the services industry for clues on the economy’s strength.

Global Stocks:

Nikkei  14,225.37 +23.80 +0.17%

Hang Seng 23,038.95 -150.67 -0.65%

Shanghai Composite 2,157.24 +7.61 +0.35%

FTSE  6,725.35 -38.27 -0.57%

CAC  4,239.13 -49.46 -1.15%

DAX 8,982.99 -54.24 -0.60%

Crude oil $94.05 -0.63%

Gold $1314.00 -0.05%

European stocks fell from a five-year high as the European Union cut its growth outlook and Bayerische Motoren Werke AG retreated after reporting results. U.S. index futures dropped, while Asian shares were little changed.

The EU cut its forecast for euro-area growth next year as the economy struggles to gain momentum with the debt crisis dragging into a fifth year and unemployment at a record. Gross domestic product in the 17-nation currency bloc will rise by 1.1 percent in 2014, less than the 1.2 percent forecast in May, the Brussels-based European Commission said today.

The commission forecast that France’s budget deficit will be 3.7 percent of GDP in 2015, which would mean it misses a deadline to reduce the shortfall to 3 percent by then.

BMW sank 4.3 percent to 80.05 euros, the biggest drop since June 20. The automaker reported a 3.7 percent decline in third-quarter earnings before interest and taxes as spending on expansion offset stronger demand for the 3-Series sedan.

Beiersdorf climbed 4.9 percent to 73.16 euros, the biggest gain since March, after saying sales will rise 6 percent to 7 percent this year. The Hamburg-based company had previously forecast revenue would increase 5 percent to 6 percent.

Marks & Spencer Group Plc, the U.K.’s largest clothing retailer, advanced 3.1 percent to 502 pence after reporting the smallest decline in general-merchandise sales in more than two years. Sales at stores open at least a year fell 1.3 percent in the quarter ended Sept. 28, M&S said. That beat the median estimate of 17 analysts for a 1.5 percent drop.

FTSE 100 6,730.09 -33.53 -0.50%

CAC 40 4,272.48 -16.11 -0.38%

DAX 9,009.48 -27.75 -0.31%

Asian stocks swung between gains and losses as Hong Kong’s benchmark index dropped ahead of a meeting of China’s top party officials this weekend. HSBC Holdings Plc gained after Europe’s largest lender posted higher earnings.

Nikkei 225 14,225.37 +23.80 +0.17%

S&P/ASX 200 5,431.96 +41.43 +0.77%

Shanghai Composite 2,157.24 +7.61 +0.35%

Industrial & Commercial Bank of China Ltd. paced declines among mainland lenders listed in Hong Kong.

Nissan Motor Co. sank 10 percent, the most since 2008, after the Japanese carmaker cut its profit forecast.

Kubota Corp. rose 7.9 percent in Tokyo as the industrial-machinery maker reported profit that topped estimates.

HSBC Holdings Plc added 1.7 percent in Hong Kong after third-quarter pretax profit increased 30 percent.

Nikkei 225 Closed

S & P / ASX 200 5,390.53 -20,59 -0,38%

Shanghai Composite 2,149.13 -0.43 -0.02%

FTSE 100 6,763.62 +28.88 +0.43%

CAC 40 4,288.59 +15.40 +0.36%

DAX 9,037.23 +29.40 +0.33%

Dow +23.89 15,639.44 +0.15%

Nasdaq +14.55 3,936.59 +0.37%

S&P +6.31 1,767.95 +0.36%