May 23, 2016 / 8:22 AM / 2 years ago

European shares led lower by commodity stocks, Bayer

MILAN, May 23 (Reuters) - European shares were lower in early trading on Monday, weighed down by losses in commodity stocks, while Bayer slumped after making an offer for Monsanto.

The pan-European FTSEurofirst 300 index, which had risen 1.3 percent in the previous session, was down 0.7 percent by 0712 GMT.

Miners and oil stocks were among the top sectoral losers, both down more than 1 percent, on the back of weaker commodity prices.

Bayer fell 3 percent after the German drugs and chemicals group said it had made an offer to buy U.S. seeds company Monsanto for $62 billion.

But Aixtron soared 15 percent after China’s Fujian Grand Chip Investment Fund agreed to make a 6 euros per share offer to buy the German semiconductor equipment maker.

Today’s European research round-up

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