European Stocks Fall; CGG Rises Following Technip Bid, Saipem Edges Upwards

European stock indices are a sea of red as weak Markit Economics manufacturing data for November stokes worries about both the euro-zone and the Chinese economies. In Paris seismic surveyor CGG rises sharply after receiving and rejecting a $1.8 billion offer from oilfield services peer Technip and in Madrid lender BBVA falls following a share sale linked to its purchase of additional shares in Turkey’s Garanti. The deal will make BBVA the Turkish bank’s leading shareholder and give it the right to nominate seven of its 10 board members.