Trade war dents European shares while M&A drives Sky, Randgold up

  • Reuters
  • Stock Market News
Trade war dents European shares while M&A drives Sky, Randgold up
Credit: © Reuters.

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LONDON, Sept 24 (Reuters) - The U.S.-China trade war bit again on Monday, denting European stock markets after tariffs from the world's biggest economies came into force and China cancelled planned talks, triggering new fears of a protracted, costly trade dispute.

Europe's STOXX 600 .STOXX fell 0.1 percent with Germany's trade-sensitive DAX .GDAXI down 0.3 percent. Autos and mining sectors, among the most dependent on smooth global trade, fell the furthest, down 0.8 to 0.9 percent.

The leading euro zone stocks index .STOXX50E fell 0.3 percent, breaking its longest winning streak since 1997.

Dealmaking drove the greatest moves across sectors, with Europe's biggest pay-TV group Sky SKYB.L soaring after Comcast (NASDAQ: CMCSA )'s offer won an auction for the company. shares jumped 8.6 percent to 17.23 pounds, just below Comcast's cash offer of 17.28 pounds a share.

Randgold Resources RRS.L topped the STOXX with a 4.4 percent gain after it agreed a share-for-share merger with Canada's Barrick Gold ABX.TO in a deal worth $18.3 billion. travel operator Thomas Cook (NS: THOM ) Group TCG.L sank 25 percent after slashing its profit outlook, blaming a hot summer in northern Europe for weaker holiday demand in the late August-September season. Cook peer TUI TUIT.L fell 3.3 percent.

Shares in Danish medical equipment firm Coloplast COLOb.CO fell 1.9 percent after Berenberg analysts cut their recommendation on the stock to "sell".

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