European Stocks Close Mostly Lower in Monday Trading; Novartis to Acquire Myricx for Up to $1.5 Billion

The European stock markets closed mostly lower in Monday trading as The Stoxx Europe declined 0.4%, Germany's DAX gained 0.2%, the FTSE 100 fell 0.3%, France's CAC dropped 0.3%, and the Swiss Market Index lost 0.9%. In economic news, retail sales in the Eurozone rose a seasonally adjusted 0.2% in May from April, while those in the broader European Union rose by 0.5%. On a yearly basis, sales rose by 1.6% in May in the Eurozone and by 1.9% in the EU. And in corporate news, Novartis said Monday it agreed to acquire privately held Myricx Bio for $1.1 billion upfront, with up to $400 million in milestone payments. The company said the acquisition adds Myricx's antibody-drug conjugate platform using N-myristoyltransferase inhibitor payloads, a new approach designed to kill cancer cells and potentially overcome limitations of existing ADC therapies. Myricx's pipeline includes two lead ADC candidates targeting B7-H3 and HER2 for multiple solid tumors, the company said. The transaction is expected to close in H2 2026. Shares of the Swiss pharmaceutical company fell 2.2% in Zurich. Eni said Monday it has entered a deal to acquire a 25% stake in EnergyX's Chilean unit, Black Giant,.