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European Stocks Drift Lower After a Strong 2013

Stock indices declined on Thursday as trading resumed after the New Year break with two sets of manufacturing data from China confirming that growth is slowing in the world¿s No. 2 economy. In Milan Fiat accelerated after striking a $4.4 billion peace deal with labor representatives at majority owned Chrysler that will allow it to buy out the rest of the Michigan carmaker, while in London retailer Debenhams extended losses after Tuesday¿s shock profit warning on news its CFO had quit.