BAYN Bayer AG

By Steve Goldstein, MarketWatch

European stocks on Monday struggled for direction, held back on concern over U.S.-China trade talks.

After losing 2.95% last week, the Stoxx Europe 600 declined 0.09% to 379.88.

Related:JPMorgan says it's time to buy Europe stocks. Goldman Sachs says, not so fast (http://www.marketwatch.com/story/jpmorgan-says-its-time-to-buy-europe-stocks-goldman-sachs-says-not-so-fast-2019-10-04)

The German DAX fell 0.29% to 11978.16, the French CAC 40 fell 0.4% to 5466.48 and the U.K. FTSE 100 declined 0.24% to 7137.89.

After a 372-point burst in the Dow Jones Industrial Average on Friday, U.S. stock futures declined, as Bloomberg News reported China negotiators were trying to limit scope of talks (http://www.marketwatch.com/story/china-takes-some-key-trade-issues-off-the-negotiating-table-with-us-report-2019-10-07). Chinese officials haven't responded to the report.

The overall economic backdrop in Europe continues to be a concern. Germany on Monday reported a 0.6% drop in factory orders in August. That was worse than the 0.4% gain expected in a FactSet-compiled economist poll.

Building materials supplier SIG (SHI.LN) slumped 17% after saying a deterioration in U.K. and German trading conditions has "accelerated."

Osram Licht (OSR.XE) shares fell over 4% after ams (AMS.EB) said it didn't get the necessary shareholder approval for its takeover bid to succeed. A rival consortium of Advent International and Bain Capital is trying to buy the German company.

Ams shares dropped 3% in Swiss trade.

Bayer (BAYN.XE) shares rose 1.4% as Handelsblatt reported a U.S. trial relating to the herbicide Roundup has been postponed until next year, which the newspaper said was a sign the company was pursuing settlements.

(END) Dow Jones Newswires

October 07, 2019 05:17 ET (09:17 GMT)

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