Europe Markets: Worries over U.S.-China trade talks limit European stocks

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Reuters

A steel worker of Germany’s industrial conglomerate ThyssenKrupp AG stands amid sparks of raw iron from a blast furnace at Germany’s largest steel factory in Duisburg, Germany.

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 SXXP, +0.03%  declined 0.09% to 379.88.

Related: JPMorgan says it’s time to buy Europe stocks. Goldman Sachs says, not so fast

The German DAX DAX, -0.08%  fell 0.29% to 11978.16, the French CAC 40 PX1, -0.21%   fell 0.4% to 5466.48 and the U.K. FTSE 100 UKX, -0.04%  declined 0.24% to 7137.89.

After a 372-point burst in the Dow Jones Industrial Average DJIA, +1.42%   on Friday, U.S. stock futures ES00, -0.51%   declined, as Bloomberg News reported China negotiators were trying to limit scope of talks. 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, -17.28%   slumped 17% after saying a deterioration in U.K. and German trading conditions has “accelerated.”

Osram Licht OSR, +1.72%  shares fell over 4% after ams AMS, -4.69%  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, +2.15%  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.

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