LONDON (The Deal) -- European markets moved lower Monday morning as a series of risk factors weighing on traders' thinking from uncertainty. These range from fighting in the Middle East and Ukraine, the likely news from the Federal Reserve's two-day monetary policy meeting, the latest signs of slowdown in the Chinese economy, the indecisive outcome of Sundat's Swedish election and fears over the Scottish independence referendum on Friday.
Watch the video below for a closer look at how European markets are doing in midday trading Monday:
Yet a splurge of varying company news meant some stocks were actually helping pull markets higher. In London, top riser was brewer SABMiller (SBMRY) , p 5.7% at 3,592.5 pence on news that Dutch rival Heineken (HKHHY) had received and rejected its takeover proposal. Heineken itself was up 1.56%. While the deal might not happen, the announcement revived ideas of further industry consolidation.
Electronic goods retailer Dixons Carphone was up 2.07% at 379 pence, on news of the bankruptcy of its main cellphone retailer rival Phones 4u. Two big network operators, Vodafone and EE Ltd., which together account for 90% of Phones 4u's connections, have said they won't renew their contracts with the company.
Another big riser was travel and holiday company TUI Travel, up 1.92% at 367 pence, after announcing the details of its planned merger with its German parent TUI AG. Shareholders in the U.K. company will own 46% of the combined business, while shareholders in TUI AG will own 56%.
In Sweden, the prospect of a period of difficult negotiations to form a government led by the Social Democrats, but without the right-wing anti-immigration party, the Sweden democrats, led to a fall in the currency, the Krona. But Swedish global fashion company Hennes & Mauritz cheered the markets by announcing a 19% increase in August sales compared with the same month last year. H&M was up 3.5% in Stockholm at Skr 309.8.
Danish telecom company TDC is buying Norwegian cable company Get AS for Nkr 13.8 billion ($2.16 billion) from its private-equity owners Quadrangle Capital Partners and Goldman Sachs Capital Partners. The market took that one a little less kindly. TDC was down nearly 7% in Copenhagen in late morning trading at Dkr43.17.
London's FTSE 100 was down 0.32% at 6,785, and after a period in positive territory mid-morning, Frankfurt's DAX was off 0.11% at 9,640. In Paris, the CAC40 was down 0.39% at 4,424.
Meanwhile in Russia, the economy is under pressure again with renewed fighting in Ukraine and new sanctions from both the European Union and the U.S. last week. Moscow's MICEX index was down 0.32% in early afternoon at 1.453.28.