Recession Bites Europe - by Lionel Laurent
European stocks suffered a predictably gloomy performance Thursday morning, as engine maker Rolls Royce unveiled job cuts and Air France-KLM's quarterly profits were virtually wiped out. Dutch retailer Royal Ahold beat expectations with its quarterly results, thanks to a long-term price reduction program. Shares gained 6.9%, to 8.55 euros ($10.70), in Amsterdam.
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