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(Reuters) -Europe's STOXX 600 index closed lower on Thursday as declines in miners and healthcare stocks offset gains in shares of engineering and technology group Siemens that helped Germany's DAX outperform regional peers. The continent-wide STOXX 600 dipped 0.4%, but was still up 3.9% this month and on pace for its second straight month of gains on several factors including better-than-feared earnings despite worries of a recession in the euro zone. Data showed Euro zone inflation in October was marginally lower than previously reported in year-on-year terms but still at a record high because of surging energy prices.
Siemens will combine five of its businesses into an independent motors and drives company with revenue of around 3 billion euros ($3 billion), Chief Executive Roland Busch said on Thursday. The German engineering company said its large drives applications and Sykatec, a metal component maker and also part of its portfolio companies, will be joined together. They will be joined with Siemens's high-precision motor spindles unit, Weiss Spindeltechnologie, along with its low voltage motors and geared motors divisions from Digital Industries, after management saw they all share suppliers, customers and technologies.