European stocks lower with Sartorius leading decline

European stocks opened lower today, Monday, as French-German laboratory equipment maker Sartorius led the declines, while investors cautiously await China’s increase in stimulus measures to revive demand.

By 0719 GMT, the European Stoxx 600 index fell 0.5 percent, and the German DAX index fell 0.4 percent, after closing at the highest level in the previous session.

According to “Reuters”, Sartorius shares fell 14 percent to the bottom of the Stoxx 600 index, after the company cut its forecast for revenue and profit margin in 2023 on Friday.

The focus remains on geopolitics as US Secretary of State Anthony Blinken concludes his visit to China, and state media said the Chinese cabinet met on Friday to discuss measures to stimulate economic growth.

LVMH, with exposure to China, the most valuable company in Europe, fell 0.9 percent, and the basic resources index fell 1.4 percent, amid concerns about demand from China, the largest metals consumer.

The US markets are on an official holiday on Monday.