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Autos and miners drag European markets lower; Bayer shares tumble 12%

Sam Meredith

The pan-European Stoxx 600 was down around 0.4 percent during mid-morning trade, with most sectors and major bourses in negative territory. Inmarsat surged to the top of the index after the satellite operator announced it had opened talks about a $3.3 billion cash takeover approach from a private equity-led consortium. Shares of the London-listed stock rose over 17 percent.