Economic news

European stocks flat as coalition talks in Germany start

European stocks were little changed on Monday as investors focused on an inflow of M&A deals and political progress in Germany.

Photo: Reuters

The pan-European STOXX 600 index was flat. Germany’s DAX inched up 0.04 percent, while France’s CAC-40 slid 0.11 percent.

The FTSE 100 index was 0.1 percent higher at 7,731.14.

French drugmaker Sanofi dropped after the company reported it plans to buy U.S. haemophilia treatment specialist Bioverativ for $11.6 billion.

In Germany chancellor Angela Merkel's conservative Union bloc and Martin Schulz's Social Democrats are expected to begin coalition talks this week, easing concerns over stability in Europe's largest economy.

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