Europe Stocks Open Steady as Automakers Slump, Food Shares Rise

Thursday, 24 January 2019 15:44 WIB

Stoxx 600Saham EropaStoxx Europe 600


European equities opened little changed on Thursday as investors weighed earnings results and the latest political and trade developments out of Washington.

The Stoxx Europe 600 Index was up less than 0.1 percent. Nestle rose 0.9 percent after being raised to buy at Berenberg. Automakers, a sector that’s highly sensitive to the trade talks, paced the declines, with Daimler losing 0.6 percent. Reckitt fell 2.6 percent after being cut to underperform by Jefferies.

The recovery in European stocks lost steam this week as conflicting trade negotiations reports and negative earnings results from major companies including ASML weighed on investor appetite. STMicroelectronics, a supplier to Apple, forecast a drop in first-quarter sales today. Traders are operating amid a drought of data on the U.S. economy thanks to the partial federal government shutdown.

Source: Bloomberg


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