Dipo Olowookere
By Investors Hub
European stocks have moved to the downside on Monday after a raft of Chinese data proved to be a mixed bag.
The euro is little changed against the dollar after Eurostat data showed Eurozone trade surplus dropped to 16.9 billion euros in May from 18.0 billion euros in April, as imports grew faster than exports.
While the U.K.?s FTSE 100 Index has slumped by 1 percent, the French CAC 40 Index is down by 0.3 percent and the German DAX Index is down by 0.1 percent.
Mining and energy stocks are moving lower on concerns about slowing growth in China.
Meanwhile, elevator firm Kone has moved notably higher on a report that it has held merger talks with Germany’s Thyssenkrupp.
SDL shares have also rallied. The British software and professional services firm has agreed to acquire the business and assets of Donnelley Language Solutions on a cash-free, debt-free basis for a cash consideration of $77.5 million (60.1 million pounds).
Drugmaker Indivior has soared after a U.S. district court granted a preliminary injunction against India’s Dr. Reddy’s on generic (buprenorphine and naloxone) sublingual film.
French technology consultancy firm Altran has also jumped after losing 30 percent on Friday on news that it had uncovered forged orders at its recently acquired U.S. business Aricent.
Dialog Semiconductor has advanced. The firm expects higher than anticipated profitability in the second quarter of 2018, driven by manufacturing cost efficiencies.
Deutsche Bank shares have also jumped after the German lender said it expects second quarter income before income taxes of approximately 700 million euros and net income of approximately 400 million euros.
