By Adria Cimino March 9 (Bloomberg) -- European stocks fell for a second day as European Aeronautic, Defence & Space Co. and Antofagasta Plc reported results that missed analyst estimates. Asian shares were little changed and U.S. index futures fell. EADS, owner of planemaker Airbus SAS, slid the most since November after posting an annual loss and scrapping its dividend. Antofagasta fell 1.8 percent after saying full-year profit dropped 61 percent. Weir Group Plc jumped the most in two months after the maker of pumps, valves and compressors reported earnings that beat estimates. The Stoxx Europe 600 Index slipped 0.5 percent to 255.51 at 9:04 a.m. in London, having earlier gained 0.2 percent. Today is the one-year anniversary of a 12-year low for the benchmark gauge for European equities, since when the index has soared 62 percent as governments and central banks around the world maintained low interest rates and committed more than $12 trillion to stimulate the economy. “Expectations have got quite ahead of themselves,” Neil Dwane, who helps oversee about $80 billion as chief investment officer at Allianz Global Investors’ RCM unit in Frankfurt, said in a Bloomberg Television interview. “The market has priced in aggressive earnings growth. I’m prepared for the market to be disappointed by the recovery.” U.S. Stocks The Standard & Poor’s 500 Index slipped less than 0.1 percent yesterday after American International Group Inc. announced the $15.5 billion sale of a unit, offsetting a drop in drugmakers. Futures on the S&P 500 declined 0.3 percent today, while the MSCI Asia Pacific Index advanced 0.1 percent. EADS sank 5.3 percent to 15.05 euros, the biggest intraday drop since Nov. 25. The company reported its fourth annual deficit since it was created in 2000 because of cost overruns on its two largest Airbus plane projects. The net loss was 763 million euros ($1.04 billion), wider than the estimated 375 million-euro loss in a Bloomberg survey of analysts. Antofagasta fell 1.8 percent to 976.5 pence. The copper producer controlled by Chile’s Luksic family said full-year profit dropped to $667.7 million, lagging behind analyst estimates, because of lower prices and output. Weir rallied 6.3 percent to 913.5 pence, the biggest intraday advance in two months. The company posted full-year net income of 128.8 million pounds ($193 million), exceeding a 124.5 million-pound estimate from a survey of analysts by Bloomberg News. Liberty International Plc, the largest U.K. mall owner, slid 2.6 percent to 493.3 pence after announcing plans to split into two listed companies to offer investors a choice between shopping centers and London properties. Rautaruukki Oyj climbed 5.1 percent to 14.96 euros. Finland’s biggest producer of carbon steel was raised to “buy” from “hold” at Deutsche Bank AG. -- With assistance from Rishaad Salamat and Francine Lacqua in London. Editors: Andrew Rummer, David Merritt. To contact the reporter on this story: Adria Cimino in Paris at acimino1@bloomberg.net.

Source