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)

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