| LONDON (MarketWatch) -- European stocks lost ground in early trading Monday, with Philips Electronics (NL:PHIA 22.99, -0.89, -3.73%) dropping 3.5% after the group offered a cautious outlook for the rest of the year. Among other big movers, BlueBay Asset Management (UK:BBAY 488.90, +113.20, +30.13%) jumped 31% in London after agreeing to be bought by Royal Bank of Canada (RY 54.83, +0.01, +0.02%) (CA:RY 55.55, +0.39, +0.71%) for around $1.5 billion. The U.K. FTSE 100 index (UK:UKX 5,687, -16.51, -0.29%) dropped 0.4% to 5,681.16, the French CAC 40 index (FR:PX1 3,812, -15.56, -0.41%) fell 0.4% to 3,809.41 and the German DAX 30 index (DX:DAX 6,477, -14.86, -0.23%) slipped 0.3% to 6,470.78. |
