European stocks fall on last trading day in August – MarketWatch

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

The Stoxx Europe 600 SXXP index,
fell 0.6% to 366.31, with the German DAX falling 0.7% DAX,
and the French CAC 40 PX1,
down 1.1%. Over the month, the Stoxx 600 is up around 3%.

A generally weaker day – outside of tech stocks – for Wall Street limited gains in Europe, where investors mulled over a handful of trades.

Suez SA SEV shares,
+ 18.50%
climbed 30% after the French water and waste company Veolia Environnement SA announced on Sunday that it had made an offer to acquire a 29.9% stake in its counterpart from Engie SA ENGI,
+ 4.67%
priced at € 15.50.

Shares of Nestle SA NESN,
+ 0.01%
climbed 1% after the food giant said it would buy the rest of US biotech Aimmune Therapeutics AIMT,
+ 171.34%
that he does not have. Aimmune does a peanut allergy treatment that has been approved by the Food and Drug Administration. Aimmune shares jumped 171%.

On the downside, the shares of Royal Philips NV PHG,
fell after the Dutch multinational conglomerate said that for the year 2020, it expected to “generate modest comparable sales growth with an adjusted EBITA margin of about the level of last year”. This came as Philips announced that its contract to supply EV300 ventilators with the US Department of Health and Human Services would end prematurely.

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