EUROPE MARKETS: European Stocks Turn Higher As Wall Street Open Approaches
October 07 2019 - 8:06AM
Dow Jones News
By Steve Goldstein, MarketWatch
European stocks on Monday turned higher in afternoon trade, led
by pharmaceutical and food producers.
After losing 2.95% last week, the Stoxx Europe 600 increased
0.52% to 382.19.
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 added 0.51% to 12073.79, the French CAC 40 rose
0.42% to 5511.33 and the U.K. FTSE 100 rose 0.41% to 7184.63.
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 16% 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.
"As it stands, we see risks that the Osram share will retreat
towards its pre-M&A bids levels unless new announcements are
made re a potential new offer/intention of offer," said analysts at
Morgan Stanley.
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 07:51 ET (11:51 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Bayer (TG:BAYN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Bayer (TG:BAYN)
Historical Stock Chart
From Sep 2023 to Sep 2024