Weak Results, Lack Of Trade Clarity Drive European Stocks Down

www.oann.com | 1/9/2019 | Staff
kimberly163 (Posted by) Level 3
LONDON (Reuters) – European shares tumbled on Thursday as optimism over U.S.-China trade talks dissipated after few details on progress emerged and a slew of weak earnings reports dented retailers and car stocks.

The trade-sensitive DAX was down 0.8 percent while the pan-European STOXX 600 lost 0.7 percent and Britain’s FTSE 100 fell 0.5 percent. The falls snapped Europe’s two-day rally which had taken it up to three-week highs.

Company - Osram - Faller - STOXX - Percent

German lighting company Osram was the biggest faller on the STOXX, down 7.2 percent after its CEO warned it suffered a weaker than expected final quarter of 2018 as auto demand slowed sharply.

The latest sign of weakness in the auto sector bruised car parts makers Faurecia and Valeo , losing 4.7 and 3.4 percent, and tyre maker Continental down 2.9 percent.

Carmaker - Fiat - Chrysler - Reasons - Sources

Italian carmaker Fiat Chrysler fell for different reasons: sources said it would...
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