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Aug. 31, 2020, 12:13 p.m. EDT

European stocks fall on the last day of August trading

Suez surges on deal news, Philips drops on warning

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By Barbara Kollmeyer, MarketWatch


Getty Images
People wearing protective face masks cross the Pont des Arts over River Seine in Paris.

With London out of action for a holiday on Monday, European markets saw a lackluster day of trading, peppered by a big gain for Suez SA on deal news.

The Stoxx Europe 600 index /zigman2/quotes/210599654/delayed XX:SXXP +0.89%  dropped 0.6% to 366.31, with the German DAX down 0.7% /zigman2/quotes/210597999/delayed DX:DAX +1.34%  and the French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +0.45%  down 1.1%. For the month, the Stoxx 600 is up around 3%.

A mostly weaker day — outside of technology stocks — for Wall Street kept a lid on gains in Europe, where investors mulled over a handful of deals.

Shares of Suez SA /zigman2/quotes/205820620/delayed FR:SEV 0.00%  soared 30% after French water and waste company Veolia Environnement SA said Sunday it made an offer to acquire a 29.9% stake in its peer from Engie SA /zigman2/quotes/207568496/delayed FR:ENGI +0.65%  at a price of €15.50.

Shares of Nestle SA /zigman2/quotes/208115528/delayed CH:NESN +0.20%   /zigman2/quotes/210131093/composite NSRGY +0.55%  climbed 1% after the food giant said it would buy the rest of U.S.-based biotech Aimmune Therapeutics  that it doesn’t own. Aimmune makes a peanut allergy treatment that has been approved by the Food and Drug Administration. Shares of Aimmune surged 171%.

On the downside, shares of Royal Philips NV /zigman2/quotes/200778575/composite PHG +1.16%   /zigman2/quotes/204604645/delayed NL:PHIA +0.50%  fell after the Dutch multinational conglomerate said that for full-year 2020, it expected to “deliver modest comparable sales growth with an adjusted EBITA margin of around the level of last year.” That came as Philips said its EV300 ventilator supply contract with the U.S. Department of Health and Human Services will end early.

/zigman2/quotes/210599654/delayed
XX : STOXX
444.93
+3.91 +0.89%
Volume: 0.00
May 7, 2021 11:03p
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/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
15,399.65
+202.91 +1.34%
Volume: 74,562
May 7, 2021 6:30p
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/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
6,385.51
+28.42 +0.45%
Volume: 78,606
May 7, 2021 6:05p
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/zigman2/quotes/205820620/delayed
FR : France: Euronext Paris
19.85
0.00 0.00%
Volume: 1.07M
May 7, 2021 5:35p
P/E Ratio
N/A
Dividend Yield
3.27%
Market Cap
€12.69 billion
Rev. per Employee
€191,211
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/zigman2/quotes/207568496/delayed
FR : France: Euronext Paris
12.61
+0.08 +0.65%
Volume: 4.34M
May 7, 2021 5:35p
P/E Ratio
N/A
Dividend Yield
4.20%
Market Cap
€30.28 billion
Rev. per Employee
N/A
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/zigman2/quotes/208115528/delayed
CH : Switzerland: SWX
CHF 109.12
+0.22 +0.20%
Volume: 5.22M
May 7, 2021 5:30p
P/E Ratio
25.42
Dividend Yield
2.52%
Market Cap
CHF306.72 billion
Rev. per Employee
CHF308,949
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/zigman2/quotes/210131093/composite
US : U.S.: OTC
$ 120.99
+0.66 +0.55%
Volume: 154,514
May 7, 2021 3:59p
P/E Ratio
26.41
Dividend Yield
2.13%
Market Cap
$337.55 billion
Rev. per Employee
$329,154
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/zigman2/quotes/200778575/composite
US : U.S.: NYSE
$ 58.48
+0.67 +1.16%
Volume: 418,361
May 7, 2021 4:00p
P/E Ratio
38.80
Dividend Yield
1.77%
Market Cap
$52.21 billion
Rev. per Employee
$272,936
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/zigman2/quotes/204604645/delayed
NL : Netherlands: Euronext Amsterdam
48.07
+0.24 +0.50%
Volume: 1.52M
May 7, 2021 5:36p
P/E Ratio
37.12
Dividend Yield
1.77%
Market Cap
€43.29 billion
Rev. per Employee
€239,423
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Barbara Kollmeyer is an editor for MarketWatch in Madrid. Follow her on Twitter @bkollmeyer.

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