By Carla Mozee, MarketWatch Technip pursuing takeover deal of CGG

LONDON (MarketWatch) -- European stocks fell Thursday, pushed lower following a fresh round of downbeat economic data for the struggling region.

The flash eurozone PMI composite output index -- which tracks surveys from both the manufacturing and services sectors -- for November came in at 51.4, the lowest level in 16 months, according to data compiled by Markit and released on Thursday.

That level was a pullback from 52.1 in October. A reading above 50 indicates expansion from the previous month, and a reading below 50 indicates contraction.

The PMI result indicates the eurozone's gross domestic product likely rose by 0.1% to 0.2% in the fourth quarter, said Chris Williamson, chief economist at Markit, said in statement. New orders fell marginally, in their first decline since July 2013, which suggests they will slow further in December.

Policy makers at the European Central Bank "will no doubt be disappointed that recent announcements and stimulus measures are showing no signs of reviving growth," said Williamson. "The deteriorating trend in the surveys will add to pressure for the ECB to do more to boost the economy without waiting to gauge the effectiveness of previously announced initiatives."

From Germany, the flash manufacturing PMI in November hit a two-month low at 50.0, while France's manufacturing PMI hit a three-month low at 47.6. Both sets of data, released Thursday, missed expectations.

Markets: The Stoxx Europe 600 fell 0.5% to 337.49, with losses picking up pace after the Markit reports. The euro (EURUSD) also dropped against the U.S. dollar, buying $1.2513, compared with $1.2543 late Wednesday.

Earlier Thursday, HSBC's closely watched report on Chinese manufacturing activity showed slowing in November, adding to worries about growth for a key buyer of metals. European mining stocks dropped, with Rio Tinto PLC (RIO) losing 2.2%, BHP Billiton PLC (BHP) giving up 2.3% and Anglo American PLC falling 2.4%.

Elsewhere in the market, shares of Technip SA stumbled 5.5%, trading near the bottom of the Stoxx 600, after the French oil-services company made a preliminary cash takeover offer of EUR1.46 billion ($1.83 billion) for CGG

You're invited: A free evening event focusing on investing opportunities in Europe

Will you be in London on Dec. 3? Then you're invited to our MarketWatch Investing Insights event, "The worse Europe gets, the more you should invest."

Governments are in trouble, reform efforts have stalled, unemployment is climbing. the news from the eurozone is bleak. And investors are fleeing. But that's a mistake: The worse the economic data from Europe get, the more you should be buying. Why? Because actions by the ECB will boost asset prices and the stock market in particular. And, big exporters can grow sales. Lower costs and steady sales translate into higher profits and dividends. Join us for an evening of cocktails and conversation to explore these opportunities.

Our panel will be led by MarketWatch Columnist Matthew Lynn, a renowned financial journalist based in London and the author of "Bust: Greece, the euro and the Sovereign Debt Crisis." He'll be joined by Mark Hulbert, MarketWatch columnist and editor of the Hulbert Financial Digest.

This event is free, but RSVPs are required. It will be held Wednesday evening, Dec. 3, in London. For more information or to RSVP, send an email to marketwatchevent@wsj.com.

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