LONDON Nov 25 European shares edged lower in
early trading on Friday, with weaker oil prices hurting energy
stocks and Italian lenders dragging down European banking index.
The STOXX Europe 600 index was down 0.2 percent by
0826 GMT, but still remained on track for a third straight week
of gains. Britain's FTSE 100, Germany's DAX and
France's CAC were down 0.1 to 0.3 percent.
The European oil and gas index fell 0.6 percent, the
top sectoral decliner, after oil prices fell more than 1 percent
on a strong dollar, rising Saudi supplies to Asian clients and a
fall in Chinese imports.
Italian banks dropped 0.8 percent on lingering
concerns ahead of a referendum vote on Dec. 4 that could topple
Matteo Renzi's reformist government. The European banking index
was down 0.6 percent.
However, drugmakers capped losses, with the European
healthcare index up 0.6 percent.
The sector was helped by a sharp rally in Swiss
biotechnology firm Actelion on a report of a takeover
approach by Johnson & Johnson underpinning the market.
Actelion shares rose nearly 10 percent, the top gainer in
the STOXX 600 index and set for their biggest one-day gain since
mid-2014, after a Bloomberg report, citing people familiar with
the matter, further said Actelion was working with an adviser to
Actelion declined to comment, while J&J did not respond to a
request for comment.
(Reporting by Atul Prakash)