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