European shares closed lower on Monday with investors reacting to corporate earnings and acquisition deals rather than the positive trend set in Asian markets.
The pan-European Euro Stoxx 600 Index provisionally closed down 0.4 percent. Major bourses tipped into negative territory with the German DAX falling by 1.4 percent. Information technology firm SAP was a major laggard, weighing heavily on the German index and falling 4 percent, after reporting its full-year operating profit on Monday morning.
Shares of Dutch conglomerate Philips closed down 3.5 percent in early deals after the company reported a third-quarter loss.
Nutreco shares also surged, up 39 percent, with an announcement that SHV Holdings is to purchase the processed food company for 2.69 billion euros ($3.43 billion). The two companies have made a conditional agreement on the deal.
Adidas shares climbed around 4 percent with a report in The Wall Street Journal on Monday that said a private investment group was looking to buy its Reebok brand.
On the data front, German producer prices for September were flat compared to the month before, but showed a yearly drop of 1.0 percent. Euro zone current account data showed that its surplus had narrowed slightly in August with a figure of 18.9 billion euros ($24.1 billion). This compares to an upwardly revised figure of 21.3 billion euros in July.
Italy's industrial orders were also released on Monday morning, showing a gain of 1.5 percent on the month.
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