Mining shares rebound, pharma under pressure in weak European open

  • Reuters
  • Stock Market News
Mining shares rebound, pharma under pressure in weak European open
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MILAN, Nov 21 (Reuters) - European shares were slightly lower in early trading on Monday as weakness in defensives, particularly pharma and consumer staples, offset gains across the mining sector.

The pan-European STOXX 600 .STOXX index fell 0.2 percent. Strength in miners helped UK's FTSE .FTSE index stay in positive territory, while healthcare dragged the Swiss index SMI .SMI into the red.

Italian banks .FTIT8300 continued to be under pressure amid concerns over capital hikes at Monte Paschi BMPS.MI and UniCredit CRDI.MI , as well as over an upcoming constitutional reform referendum. Italy's benchmark FTSE MIB .FTMIB hit a six-week low.

In deals news, a U.S. regulator moved to stop a planned Chinese takeover of the German chip designer Aixtron AIXGn.DE sending its shares more than 8 percent lower. midcaps .FTMC were also on the backfoot following outlook warnings from Essentra ESNT.L and Mitie MTO.L , raising concerns over the impact of Brexit on domestic UK companies.

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