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...
Wake Up To Breaking News!