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The pan-European STOXX 600 (STOXX) declined 0.8% by 0709 GMT, led lower by personal and household goods (SXQP), healthcare (SXDP) and retail (SXRP) sectors.
The pull back came after U.S. tech-heavy Nasdaq (IXIC) breached its intraday record high on Friday and the STOXX 600 closed 14% below its all-time high as improving economic data and fresh stimulus measures lent weight to hopes that the worst is behind.
AstraZeneca (L:AZN) slipped 1.8% after Bloomberg reported it had approached U.S. rival Gilead Sciences (O:GILD) about a possible merger to form one the world’s largest drug companies.
German card payments company Wirecard (DE:WDIG) dropped 4.1% after prosecutors opened proceedings against its entire management board as part of a market manipulation probe.
Oil majors Royal Dutch Shell (L:RDSa), BP (L:BP) and Total (PA:TOTF) rose between 0.5% and 3% as crude prices climbed after major producers agreed to extend a deal on record output cuts. [O/R]
