European Stocks Open Lower as Trade War Escalates; Thomas Cook Shares Down 15%
Thursday, 16 May 2019 14:36 WIB | MARKET UPDATE |Stoxx 600SahamEropa

European markets opened lower Thursday despite a late rally in Wednesday afternoon trade, after CNBC revealed that the U.S. plans to delay auto tariffs on European imports by up to six months.

The pan-European STOXX 600 fell 0.2% at the opening bell, bank stocks leading the losses with a 0.7% decline in the early minutes of trade. Basic resources got off to the strongest start, climbing 0.8%.

Despite early losses across European markets Wednesday, autos finished around 2% higher Wednesday after three sources told CNBC Wednesday the administration will delay the tariffs, causing shares in carmakers Porsche, BMW and Daimler to climb.

Source : CNBC

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