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The pan-European STOXX 600 index (.STOXX) ended 0.4% lower after a survey showed the U.S. services sector barely grew in May, while factory orders rose less than expected. "There's a bit of profit taking after some of the moves we've had recently," said Steve Sosnick, chief strategist at Interactive Brokers. "The economic reports that we've gotten around the world (signal) a somewhat slowing economy." Shares of Indivior Plc (INDV.L) jumped 7.8% to top the STOXX 600 index after the drugmaker agreed to pay $102.5 million to settle a lawsuit for its opioid addiction treatment Suboxone. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Sherry Jacob-Phillips, Dhanya Ann Thoppil and Richard ChangOur Standards: The Thomson Reuters Trust Principles.

Persons: we've, Steve Sosnick, Christine Lagarde, Joachim Nagel, Shreyashi Sanyal, Sherry Jacob, Phillips, Dhanya Ann Thoppil, Richard Chang Organizations: PMI, Interactive, U.S . Federal, European Central Bank, Amazon.com Inc, Indivior Plc, Trendyol, Viaplay, Volvo, Copenhagen Stock Exchange, Thomson Locations: U.S, Alibaba, Swedish, Sweden, Bengaluru

☆ European shares open flat; London leads on oil boost
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +1 min

June 5 (Reuters) - European shares opened flat on Monday as markets failed to catch the tailwind from a bounce seen last week, while London stocks led regional gains following upbeat performances by energy firms on the back of higher oil prices. The pan-European STOXX 600 index (.STOXX) held its ground at 462.46 points, while London's FTSE 100 (.FTSE) index led gains with a 0.5% climb. The European oil & gas sector index (.SXEP) rose 1%, buttressed by stronger oil prices after top global exporter Saudi Arabia pledged to cut production by another 1 million barrels per day from July. Shares of Indivior Plc (INDV.L) surged 11% to top the STOXX 600 Index after the drugmaker agreed to pay $102.5 million to settle a lawsuit for its opioid addiction treatment Suboxone. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

Persons: Shreyashi Sanyal, Sherry Jacob, Phillips Organizations: FTSE, Saudi, Markets, U.S . Federal, Indivior Plc, Thomson Locations: London, Saudi Arabia, U.S, Bengaluru

Companies Indivior PLC FollowJune 2 (Reuters) - Indivior Plc (INDV.L) said on Friday it agreed to pay $102.5 million to settle a lawsuit by dozens of U.S. states accusing it of illegally suppressing generic competition for its opioid addiction treatment Suboxone. Suboxone was approved for U.S. sale in 2002, and Indivior had the exclusive right to sell the treatment in tablet form until 2009. States said Indivior switched to an oral film version of Suboxone from a tablet version to extend its monopoly, just as generic manufacturers were poised to sell their own lower-cost tablets. Generic tablets obtained federal approval in 2013. Indivior expects to pay the $102.5 million in cash this month.

Persons: drugmaker, Indivior, Suboxone, Josh Kaul, Mariam Sunny, Jonathan Stempel, Maju Samuel, Matthew Lewis Organizations: Indivior, D.C, U.S, U.S . Centers for Disease Control, Thomson Locations: Chesterfield , Virginia, U.S, Washington, Indivior's, Philadelphia, Suboxone, Wisconsin, United States, Bengaluru, New York

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