Europe shares close down, Nutreco up 40%; Adidas climbs

European shares closed lower on Monday with investors reacting to corporate earnings and acquisition deals rather than the positive trend set in Asian markets.

Philips falls

The pan-European Euro Stoxx 600 Index (^STOXX) provisionally closed down 0.4 percent. Major bourses tipped into negative territory with the German DAX (^GDAXI) falling by 1.4 percent. Information technology firm SAP was a major laggard, weighing heavily on the German index and falling 4 percent, after reporting its full-year operating profit on Monday morning.

The Portuguese PSI 20 Index (Euronext Lisbon: .PSI20) also saw some weakness. Shares of Portugal Telecom (Euronext Lisbon: PTC-PT) tanked around 20 percent with Reuters reporting market chatter of a potential share sale by Brazilian telecoms firm Oi.

Read More SAP cuts profit outlook as customers switch to cloud

Shares of Dutch conglomerate Philips (Euronext Amsterdam: PHIA-NL) closed down 3.5 percent in early deals after the company reported a third-quarter loss.

Read More China, Russia weigh on Philips earnings

U.K. pharma group Shire (London Stock Exchange: SHP-GB) saw its shares drop 1 percent after an announcement that its interim finance chief James Bowling was quitting to join Severn Trent (London Stock Exchange: SVT-GB).

Meanwhile, Bolloré (Euronext Paris: BOL-FR) - a French investment and industrial holding group - sank over 8 percent after making a bid to take control of French advertising firm Havas (Euronext Paris: HAV-FR).

Nutreco (Euronext Amsterdam: NUO-NL) shares also surged, up 39 percent, with an announcement that SHV Holdings is to purchase the processed food company for 2.69 billion euros ($3.43 billion). The two companies have made a conditional agreement on the deal.

Adidas (XETRA:ADS-DE) shares climbed around 4 percent with a report in The Wall Street Journal on Monday that said a private investment group was looking to buy its Reebok brand.

Fresh data

On the data front, German producer prices for September were flat compared to the month before, but showed a yearly drop of 1.0 percent. Euro zone current account data showed that its surplus had narrowed slightly in August with a figure of 18.9 billion euros ($24.1 billion). This compares to an upwardly revised figure of 21.3 billion euros in July.

Italy's industrial orders were also released on Monday morning, showing a gain of 1.5 percent on the month.

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