European Stocks Decline After Strong Week

European stocks fell on Monday, after the Stoxx 600 index recorded its largest weekly jump since March, with declines in real estate sector stocks, while Ryanair shares rose following forecasts of record annual profits. The Stoxx 600 index closed down 0.2 percent after surging more than three percent last week, buoyed by positive investor sentiment following a series of data indicating large profits for companies and signs that major central banks might halt tightening. Real estate stocks dropped 2.9 percent after being the best performers on the index last week. Meanwhile, Ryanair shares jumped 5.3 percent after it forecast record annual profits and committed to regular dividend distributions, leading to a 0.6 percent rise in the travel and leisure sector stocks on the index. Telecom Italia shares fell 3.4 percent after having surged around 5.4 percent earlier. Investors are also awaiting a credit rating review of Italy by Fitch on Friday.