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European stocks edge lower, Micro Focus tumbles

European stocks dropped in morning deals on Monday as corporate results and M&A took centre stage with Micro Focus International Plc sliding and a potential takeover of Hammerson supporting commercial real estate stocks.

Photo: Reuters

The Stoxx Europe 600 was down 0.2% at 376.84.

Germany's DAX 30 slumped 0.4% to 12,343.45. French CAC 40 dived 0.3% to 5,264.64 and FTSE 100 was stable at 7,157.58.

Micro Focus tumbled 40 percent to a three-year trough after it downgraded its annual revenue outlook and its CEO Chris Hsu has stepped down.

Shares of Hammerson leaped 27 percent after rejection of takeover bid from French real-estate investment company Klepierre SA.


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