European shares fall after poor Chinese and German data – business live
European shares pull back from three-month highs; oil prices climb after the extension of production cuts
In London, AstraZeneca shares are down 2.2% at £82.40 after Bloomberg News reported on Sunday that the British drugmaker – which recently became Britain’s biggest company by stock market value – had approached US rival Gilead Sciences about a potential merger of the two companies.
Also weighing on the UK’s blue-chip index, a City taskforce has warned that up to £36bn worth of government-backed business loans could turn toxic by next year, as companies struggle to repay growing debts during the Covid-19 crisis.
And we’re off.