Energy, Miners Drag Europe Shares Down; Bayer Rises on Deal Bets
- Oil stocks post worst performance among European equities
- Monsanto has explored possible deals with Bayer and BASF
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Energy producers and miners led a retreat in European stocks, while chemical companies climbed amid merger-and-acquisition speculation.
Total SA dragged oil shares to the biggest drop on the Stoxx Europe 600 Index. Commodity producers snapped a three-day advance, with ArcelorMittal leading declines. BASF SE and Bayer AG led chemical stocks to the best performance on the equity gauge as Monsanto Co. was said to have explored possible deals with the two German companies.