European stocks mixed as autos fall on Daimler's profit warning

Friday, 12 July 2019 14:46 WIB

Saham EropaStoxx Europe 600


European stocks traded mixed on Friday morning as auto stocks struggled on the back of a profit warning from German carmaker Daimler.

The pan-European Stoxx 600 hovered just above the flatline at 387.10  in early trade, bank stocks leading gains with a 0.8% climb while autos slipped 0.8%.

Daimler stock was down 3% during the morning session, after it warned investors to expect a second-quarter loss before interest and taxes of 1.6 billion euros ($1.8 billion) after a 2.6 billion euro profit posted in the same period last year.

In a report published Thursday afternoon, the International Monetary Fund (IMF) urged fresh stimulus from the European Central Bank (ECB) to mitigate rising economic dangers, causing stocks to slide into the red. The IMF warned that the euro zone economy faces rising risks from trade tensions, Brexit and Italy.

Source : CNBC


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