European shares fall at open, Sartorius plunges on forecast cut

European equities dipped at the opening bell on Monday, led by Franco-German lab equipment maker Sartorius, as investors expected additional stimulus measures from China to boost demand.

By 0719 GMT, the pan-European STOXX 600 index had down 0.5%, while Germany’s DAX had fallen 0.4% after ending at a record high the previous session.

Sartorius shares fell 14% to the bottom of the STOXX 600 after the business lowered its revenue and profitability estimates for 2023 on Friday.

The focus remains on geopolitics as US Secretary of official Antony Blinken concludes his trip to China, while China’s cabinet gathered on Friday to consider economic stimulus measures, according to official media.

The China-exposed luxury conglomerate LVMH, Europe’s most valuable company, sank 0.9%, while the basic resources index declined 1.4% due to concerns about demand from top metals user China.

On Monday, the markets in the United States will be closed for a public holiday.