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LONDON (TheDeal) --  There's plenty of action in European markets Monday, despite continued nervousness about negotiations with Greece and some downsizing of expectations on the British economy. The latest blows come from rating agency Moody's, which says the British government is unlikely to succeed in its aim of running a budget surplus by 2019, and from the Confederation of British Industry, which cut its growth forecast for 2015 from 2.7% to 2.3%.

In Germany, on the other hand, industrial production and the country's trade surplus are up. Outside Western Europe, the Turkish lira and the Istanbul market have taken a hit as President Recep Tayyip Erdogan's AKP Party lost its majority in the weekend's elections. In China, both exports and imports were down in May, again raising investors' hopes of further stimulus measures.

In London, the FTSE 100 was down 0.06% at 6,800.38, while in Paris, the CAC 40 was down 0.6% at 4,891.01. In Frankfurt, the DAX was down 0.56% at 11,134. In Turkey, the Borsa Istanbul 100 was down 6.18% at 76,875.75.

In Germany, shares in Deutsche Bank (DB) - Get Deutsche Bank AG Report jumped sharply on the weekend's announcement that co-CEOs Anshu Jain and Jürgen Fitschen are to resign, following poor reception of their recovery and reorganization plans at a shareholder meeting last month. Deutsche was trading up nearly 6% by late morning in Frankfurt at €29.24 a share.

In London, $68 billion drinks maker Diageo (DEO) - Get Diageo Plc Report was up 6.8% at 1,880.0 pence a share following a Brazilian media report that Jorge Paulo Lemann's 3G Capital is planning a bid.

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Infrastructure and services group Balfour Beatty (BAFBF) is up nearly 4%, at 258.7 pence, again on media speculation, this time in Britain's Sunday Times newspaper that China Civil Engineering Construction is exploring a $3 billion takeover.

BT (BT) , a telecom group with a market capitalization of around $56 billion, has also edged higher on talk of bid interest from Deutsche Telekom (DTEGY) .

In Sweden, rare diseases specialist company Swedish Orphan Biovitrum, or Sobi, dropped 17.7% to 108.10 Kronor, when it announced the end of talks with potential buyers, reportedly including Pfizer (PFE) - Get Pfizer Inc. Report and Biogen (BIIB) - Get Biogen Inc. Report. Sobi is currently planning a launch of hemophilia medicines Elocta and Alprolix.

And in Switzerland, crop sciences group Syngenta (SYT) was down 0.65% at 410.10 Swiss francs a share and a market capitalization of Sfr37.9 billion ($40.29 billion) after again rebuffing as inadequate a Sfr41,7 billion approach from seed giant Monsanto (MON) .

Swiss lung disease specialist Actelion (ALIOF) is up 8.72% at 143.4 Swiss francs also on the back of a Sunday Times report that it has received an informal approach from Ireland's Shire (SHPG) - Get Shire PLC Sponsored ADR Report. The company has a market capitalization of Sfr16.29 billion ($17.3 billion). Shire itself was down 1.38% in London at 5,380 pence.

In France, Compagnie de Saint Gobain (CODGF) bounced, but then fell back on news of exclusive talks with U.S. private equity investor Apollo Global Management (APO) - Get Apollo Global Management Inc. Class A Report to sell its glass bottles maker Verallia for €2.95 billion ($3.28 billion).

In Asia, Japan's Nikkei 225 was down 0.02% at 20,457.19. Hong Kong's Hang Seng was up 0.21% at 27,316.28. In China, the Shanghai Composite was up 2.71% at 5,131.88.