European stocks slipped Monday, with shares of BNP Paribas SA struggling and as Shire PLC moved lower ahead of an afternoon presentation by the drug maker.
The Stoxx Europe 600 index fell 0.6% to 346.16. The index finished last week with a 0.3% gain.
Among country indexes, the FTSE 100 index fell 0.5%. Germany’s DAX 30 index lost 0.8% and France’s CAC 40 index fell 0.7%.
Preliminary German PMI Manufacturing grew to 52.4 points in June, from 52.3 points in May, but slightly below market consensus of 52.5 points. PMI Services slid to 54.8 points in June, following a 56.0 point reading the previous month and against expectations of a rise to 55.7.
Preliminary Eurozone PMI Manufacturing expansion slowed down to 51.9 in June, from 53.4 in May, while analysts expected less decline to 52.2. PMI Services slid to 52.8 in June, following a 53.2 point reading the previous month and against expectations of an increase to 53.3. PMI Composite dropped to 52.8, from 53.5 and against forecasts of remaining unchanged.
Shire PLC shares fell 1.8%, popping up among leading decliners, before the drug maker held a meeting for investors. Shire on Friday rejected a 27.2 billion-pound ($46.37 billion) takeover bid from U.S. rival AbbVie Inc., saying the offer fundamentally undervalued the company. Its shares on Friday surged 17% as investors speculated Shire will eventually be acquired.
A number of mining shares rose following a better-than-expected result for HSBC’s June preliminary manufacturing report from China, a major buyer of natural resources. Rio Tinto PLC gained 2%, Anglo American PLC picked up 1.1%, and BHP Billiton PLC moved up 1.1%.
Stock in Alstom SA rose 1.1% as France on Sunday won an option to buy a 20% stake in the company from France’s Bouygues SA. The move was part of an agreement to support General Electric Co.’s bid to purchase Alstom’s energy business.
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