MILAN, March 9 European shares fell in early
trading on Thursday, weighed down by oil stocks and some
disappointing earning updates, but Akzo Nobel soared after the
Dutch paint maker rejected an $22 billion unsolicited bid from
U.S. rival PPG.
By 0826 GMT, the STOXX 600 was down 0.3 percent,
with energy stocks being the biggest drag after crude oil prices
plunged to their lowest level this year in the previous session.
Akzo Nobel rose 14 percent, leading gainers on the
pan-European index. The Amsterdam-based group said PPG's
offer undervalued the company, saying it was instead considering
floating or selling its specialty chemicals business.
Top STOXX faller was Domino's Pizza, down 11 percent
after disappointing results. It was followed by Britain's fourth
biggest supermarket Morrisons, which gave a cautious
outlook, and French retailer Carrefour, which reported
a lower than expected operating profit.
(Reporting by Danilo Masoni, editing by Kit Rees)