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European shares flat as U.S. job data boost fades

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By Euronews  with REUTERS BUSINESS
European shares
European shares

European shares were mixed at the open on Monday as optimism fuelled by data showing a buoyant U.S. labour market last week faded while a flurry of corporate news triggered sharp individual moves.

The pan-European STOXX 600 was down 0.1 percent at 0841 GMT with regional indexes experiencing a choppy start of the trading session.

Germany's Wirecard scored the best performance in early deals with its shares skyrocketing 15 percent after it said a law firm it appointed made no conclusive findings of criminal misconduct after allegations of irregularities.

Iron ore pellet producer Ferrexpo experienced a sharp move in the opposite direction after its auditors received statements from a charity containing "unexplained discrepancies".

Developments in mergers and acquisitions also grabbed traders' attention with Denmark's DSV falling 3.5 percent after its bid for Panalpina (off 7.4 percent) hit a road block when the Swiss freight forwarder's top shareholder rejected the offer.

In the financial sector, Julius Baer fell more about 5 percent after announcing cost cuts as profit missed expectations.

Ryanair shares were down 3.2 percent after the Irish budget airline reported a 20 million euro ($22.9 million) loss in the third quarter due to weaker fares which it expects to continue throughout the year.