By Steve Goldstein, MarketWatch
European stocks on Monday sagged on concerns over the progress of U.S.-China trade talks and violence in Hong Kong.
Having registered gains for five straight weeks, the Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP +0.88% fell 0.22% to 404.52.
The German DAX /zigman2/quotes/210597999/delayed DX:DAX +1.15% fell 0.2% to 13201.60, the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +1.01% weakened 0.02% to 5888.41 and the U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.76% declined 0.57% to 7317.44.
President Trump on Friday said he has not agreed to roll back China tariffs. Meanwhile, Hong Kong stocks plunged in wake of new violence there. Police shot an antigovernment protester on Monday, and a man was set on fire.
The U.K. reported slightly worse than forecast economic data, with GDP growing just 1% year-over-year in the third quarter, the worst rate of growth in more than nine years. The credit rating agency Moody’s on Friday night warned it could downgrade the U.K., citing concerns over a paralysis in policy-making and worries about spending plans.
Of stocks on the move, shares of Greggs /zigman2/quotes/205743109/delayed UK:GRG +1.83% rallied 15% as the bakery chain reported same-store sales growth of 8.3% in the six weeks to Nov. 9 and increased its full-year pretax profit forecast.
Shares of Galapagos /zigman2/quotes/208057460/delayed NL:GLPG -3.51% /zigman2/quotes/205153380/composite GLPG -4.63% rose 3.4% as the pharmaceutical research firm and biotech company Gilead Sciences /zigman2/quotes/210293917/composite GILD +2.15% say a rheumatoid arthritis drug, filgotinib, improved clinical outcomes versus placebo. Galapagos has most of the European rights to the drug and gets royalties outside Europe of at least 20%.